Advance tax on capital gain
This query is : Resolved
K.GANESH KARTHI
(Querist)
04 August 2012
When an capital asset of a firm/ Company is sold during the month of July or August whether it is needed to pay advance tax with in September 15?
CA CS Amit S. Kedia
(Expert)
04 August 2012
Yes..
First of all you will have to see whether it is a depreciable asset or not and capital gain has arisen.
if there is capital gain then entire amount of tax on capital gain has to paid to the dept on or before the next due date for advance tax.
First of all you will have to see whether it is a depreciable asset or not and capital gain has arisen.
if there is capital gain then entire amount of tax on capital gain has to paid to the dept on or before the next due date for advance tax.
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