Advance tax for senior citizen in case of property sale
This query is : Resolved
10 December 2012
Dear Experts,
My Uncle is a senior citizen and has sold a property in Nov 2012, wherein the long term capital gain tax works out to be Rs. 3,04,000.
Does he have to pay advance tax before 15 Dec 2012 or can he pay total tax at the time of return filing ?
He has no business income. He gets small pension from old employer.
My Uncle is a senior citizen and has sold a property in Nov 2012, wherein the long term capital gain tax works out to be Rs. 3,04,000.
Does he have to pay advance tax before 15 Dec 2012 or can he pay total tax at the time of return filing ?
He has no business income. He gets small pension from old employer.
10 December 2012
There is no need to pay advance tax by senior citizen if there is no business income.
10 December 2012
Thanks Manish Sir.
Just wanted to know whether this is applicable even if there is a tax liability of Rs. 3 Lakhs due to sale of property ??
Just wanted to know whether this is applicable even if there is a tax liability of Rs. 3 Lakhs due to sale of property ??
10 December 2012
Thanks Sir !!
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