234 C

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amit (Querist)
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18 August 2010 How to calculate 234c when there is short term capital gain on share long term capital on sale of property for an individual sale occured in 3rd quarter of advance tax slab

CA Sanat Pyne

CA Sanat Pyne (Expert)
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18 August 2010 234cinterest will be calculated for capital gain in the said quarter in which the gain occured.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 August 2010 *Payment of Advance Tax in case of Capital Gains/ casual Income:

In such cases it is not possible for the assessee to estimate his income in advance for payment of advance tax. Therefore it is provided that if any income arises in such cases after the due date of any installment, then advance tax on said income should be paid on / before the due date of next immediate installment or in case of no installment being due by the end of the Previous year, i.e., 31st March.

Hence interest u/s 234C will be calculated from the quarter in which income was earned.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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18 August 2010 AGREED WITH EXPERTS.
IN CASE OF CAPTIAL GAIN / CASUAL INCOME LIKE LOTTERY INCOME , INTERST U/S 234C WILL BE CACULATED FORM THE QUARTER IN WHICH SUCH INCOME EARNED BY ASSESSEE.

amit

amit (Querist)
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18 August 2010 Thanks for Reply N Solving Problem.

amit

amit (Querist)
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18 August 2010 For short Term Capital gain On Share Whether we have To see Quarter Or not Or to Be treated as Normal Income N calculate 234 C

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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18 August 2010 As you can see from above reply. Even for STCG quarter will be considered.

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