Capital gains

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 August 2017 RESPECTED SIR,
AN ASSESSEE HAS SOLD OUT A PLOT OF LAND ON 01.08.2017. THE LAND IS LONG TERM CAPITAL ASSET.
AND THE AMOUNT OF CAPITAL GAIN IS RS. 10.00 LACS
THE ASSESSEE WANTS TO PAY TAX ON RS. 10.00 LACS.i.e. 20%+EC+SHEC

SIR, PLEASE INFORM ME THE DUE DATE OF DEPOSIT OF TAX
WITH REGARDS

K Srinivas, CMA CS

K Srinivas, CMA CS (Expert)
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29 August 2017 The 20% of the Capital gains is treated as total tax payable for the purpose of determining Advance tax liability. In case the assessee has any other income during the year, the total tax payable will be calculated accordingly.

Of this tax liability, 45% should be paid before 15th September, 75% before 15th December and the remaining before 15th March must be paid.

Querist : Anonymous

Querist : Anonymous (Querist)

30 August 2017 THANK YOU SIRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

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