31 July 2009
If capital gain accrues after 15th of march so what are the liabilities in the assessees hand,is he liable to pay advance tax on the capital gain and if the assessee doesnt pay advance tax for the capital gain made then what are the consequences.
03 August 2009
As per proviso to sub -section (1) of Sec. 234C if no interest is chargeable from the assessee if he/she fails to estimate advance tax on account of Capital Gain provided the tax such accrued is paid before 31st March of that financial year.
Do to avoid any interest the tax on capital gain earned after 15th March should be paid before 31st March.
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