15 December 2009
If the Capital asset was sold on 15.01.2009, whether 234C for non payment of advance tax on Sep 15, dec 15 will be applicable for the tax on that Capital gain portion?
15 December 2009
No. In case a capital asset is sold, then the interest in case of 234C shall not be calculated for the quarters prior to quarter in which such asset is sold. So in this case, no interest shall be applicable for sep and dec quarters.
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