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Advance tax on capital gains
On 10th March 2018 sold house property for short term gain of 400000. Is advance tax is payable on this gain or not? Thanks in advance.
Replies (3)
The STCG is clubbed under other income and taxed as per slab rate, so if total tax amount increases 10K...... advance liability arises.
Thanks sir but I wanted to know as sale in March 2018 and due date is March 15 how much percentage should have been paid as advance tax on March 15 and whether interest is applicable for non payment.
As the sale is before march 15th, advance tax liability to pay 100% of total tax arises by 15th March itself. Due to STCG liability arises only in last quarter, interest is not charged over short payment of earlier quarters.
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