22 February 2013
WHETHER PROVISIONS OF ADVANCE TAX APPLY IN CASE OF INCOME CHARGEABLE UNDER THE HEAD CAPITAL GAINS. MY PRESUMPTION WAS IT WILL APPLY. HOWEVER THE WINMAN SOFTWARE HAS NOT SHOWN THE CALCULATION OF INTEREST UNDER SECTION 234B AND C EVEN THOUGH ASSESSES TAX ON CAPITAL GAIN AFTER TDS IS 40000. KINDLY ADVISE
22 February 2013
yes provisions of advance tax shall apply. All items of income including capital gains, winnings etc are liable for payment of advance tax with effect from A.Y 1989-90.
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