234c
This query is : Resolved
paras kotak
(Querist)
31 January 2015
I received Short Term capital gain Taxable @15% of Rs 1 Crore in month of march.Please advice me whether I am liable to pay interest u/s 234?please guide me in detail
Rupesh Jain
(Expert)
31 January 2015
you have to pay the advance upto 15.3.20...
31 January 2015
Note that no interest is payable if there is any shortfall in payment of advance tax due-
·If it is on account of underestimation or failure to estimate amount of capital gains or speculative income (lottery income, gambling income etc) AND
·The taxpayer has paid in full - tax payable on the income mentioned above, while paying remaining installments of advance tax due, or if no installment is due, tax payer pays them before the end of the financial year
·If it is on account of underestimation or failure to estimate amount of capital gains or speculative income (lottery income, gambling income etc) AND
·The taxpayer has paid in full - tax payable on the income mentioned above, while paying remaining installments of advance tax due, or if no installment is due, tax payer pays them before the end of the financial year
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