28 December 2009
Mr. x is employed in a MNC and tax is deducted at source from his salary income, apart form that if he has a capital gain of Rs. 300000, through sale of property, than is he liable to pay advance tax against that capital gain also. if yes is the Adv. tax payment procedure is same as income tax. plz explain thank you in advance
30 December 2009
OK THANKS ALL but/if Mr.x sales the flat on 15 Jan 2010 with a capital gain of Rs. 3lakhs in such a situation what would be his advance tax procedure? (only 2 mnths remains to end this financial year) [as per income tax, adv tax period 15sep, 15dec, 15mar, if taxliability exceeds Rs. 5000 it starts.]
31 December 2009
the assesseee has to pay the 100% of his capital gains tax as advance tax before 15th march. He is not liable for advance taxes of Sep 15 and Dec 15.
CAclubindia
