Advance tax payable by my 81 year old relative
This query is : Resolved
26 September 2012
My relative, who is 81 years old, sold a plot of land on 25th July, 2012.The land was purchased by her prior to 1/4/81 and she has earned long term capital gains, after indexation, of about Rs.60 lakhs. What is the advance tax payable by her by 15th september, 15th december and 15th march 2012? I have heard that senior citizens do not have to pay advance tax with effect from 1/4/2012. Is this true? If true, can you please inform me the relevant Income Tax notification number and date?
11 October 2012
yes, No need of paying advance tax by senior citizen if there is no business income (Sec 207(2))
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
