Dear Sirs/Madam, I recently sold my 17% right in a commercial property(ancestral) after more than 30 years. The capital gain is based from 1981 is large. Should i pay Capital gain Tax as Advance tax before 15-9-15,15-12-15 and 15-3-16 or i can pay before the end of FY 2016. I am inclined to opt for 10% without indexation aas it is cheaper than 20 % with indexation. As the price in 1981 was negligible. Regards ASHOK
Menu
Advance tax applicable to ltcg ?
Replies (2)
Yes, you should pay the advance tax amount in proportions specified in Act, by paying this u can save penal interest charged u/s 234c. As you mentioned, u have transferred share in commercial property then how can u use 10% tax rate for calculation of capital gain. 10% option is available for listed securities or units. Please clarify it
Yes i agree with chander
Recent Topic
- Issue with ITR2 online utility for HUF
- TDS deducted by EPFO under wrong section
- Schedule SI in ITR-2
- What is the easy way to do CA- through foundation
- Schedule FA query for this AY 2026-27
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
Related Topics
CAclubindia
