Payment of capital gains tax at intervals
This query is : Resolved
17 November 2010
One of our clients has sold his equity shares in a private unlisted limited company and capital gains tax is payable on the gains. Opinion differs whether the entitre capital gains tax due on the sale is to be paid in one lump or it can be paid at the prescribed intervals. I shall be glad for correct opinion.
S. Krishnamoorthy
S. Krishnamoorthy
17 November 2010
The word used in section 207 is current income. Current income includes capital gains also. Therefore, the assessee can opt for section 211 for payment of tax on capital gains.
Message likes :
1 times
17 November 2010
You need to pay the advance tax on the the due dates. so there is no need to pay the entire amount of capital gain tax in one go.
Message likes :
1 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
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Donation Receipt u/s 80G
- 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
