Advance tax liable on sale of property on 16/03/2016
This query is : Resolved
22 March 2016
Our co. Had a property aquired on 16/01/2006 For Rs. 1700000/- But now sold for Rs. 60,00,000/- . Whether we are liable to pay advance tax ? If yes kindly suggest a date of last payment.
22 March 2016
Since the sale took place after advance tax due date the question of advance tax does not arise. So pay the tax on or before 31st March 2016.
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