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Clarification on LTCG tax

Nitika (Sr Executive) (28 Points)

04 April 2021

I have purchased share worth Rs 120000/- on 2008 and I have sold the same in 2021 on 27th March March at Rs 500000/-. I have received money on my account on 31st March 2021. I have not paid any advance tax yet. Please help me with how much tax I need to pay and by when?.

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9 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 April 2021

I think your tax liability will be for sale of shares is @ 10% . 100000 rupees is exempt, so on remaining 400000 rupees @ 10%

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Nitika (Sr Executive) (28 Points)
Replied 04 April 2021

Thanks for your reply.
When so I need to pay tax?
Can I pay tax on 31st July 2021?

Kapadia Pravin (17254 Points)
Replied 04 April 2021

Tax liability @ 10% after first 1 lakh exemption.
Cost will be at market price as on 31-01-2018 or actual 120000/- whichever is more.

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 04 April 2021

Yes, on 31.7.21 for individual returns

CA Rashmi Gandhi (Chartered Accountant) (86308 Points)
Replied 04 April 2021

Consult with some CA with all details as with such a little information, it is not possible to calculate your CG. in my view , no liability occur as value as on 31.01.2018 will be considered while calculating capital gain