Advance tax on capital gain
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2014
advance tax on capital gain deposit as and when capital gain arises on sale of assets.whether 100% tax liability shall be deposit in coming installment.
11 September 2014
yes . You required to deposit 100 % tax liability before march 31 of that year.
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 September 2014
sir
suppose, i have gained on capital assets on 10th september Rs 1 lacs Tax liability then while paying advance tax we have also deposit of liability of capital gain Rs 1 lacs. on 15th september.
suppose, i have gained on capital assets on 10th september Rs 1 lacs Tax liability then while paying advance tax we have also deposit of liability of capital gain Rs 1 lacs. on 15th september.
12 September 2014
No.
234C specifically says that 100 % tax on capital gain shall be paid within 31 march .
No interest u/s 234 C enviable if assesses failed to estimate his/ her capital gain
So
In your case pay 30 % i.e, Rs. 30000 on September 15 , Rs. 30000 on 15 December and remaining Rs. 40000 before 31 st marsh .
234C specifically says that 100 % tax on capital gain shall be paid within 31 march .
No interest u/s 234 C enviable if assesses failed to estimate his/ her capital gain
So
In your case pay 30 % i.e, Rs. 30000 on September 15 , Rs. 30000 on 15 December and remaining Rs. 40000 before 31 st marsh .
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