Advance tax on capital gains
This query is : Resolved
08 September 2010
Hi
Suppose there is a capital gain accrued in the month of May 10, When am I Suppose to Pay advance tax on capital gains? Do i have to pay it by Sep 15th or will i have time till the end of Financial Year?
Also, If i have to pay advance tax on Capital gains by Sep 15th, should i remit the entire capital gain tax or can i pay it in installments as 30%, 60% and 100%?
Waiting for your reply.
Thank You
Suppose there is a capital gain accrued in the month of May 10, When am I Suppose to Pay advance tax on capital gains? Do i have to pay it by Sep 15th or will i have time till the end of Financial Year?
Also, If i have to pay advance tax on Capital gains by Sep 15th, should i remit the entire capital gain tax or can i pay it in installments as 30%, 60% and 100%?
Waiting for your reply.
Thank You
CMA Ramesh Krishnan
(Expert)
11 September 2010
You need to pay Advance tax on 15th if the tax on gain exceeds Rs.5000/- if not exceed you have time up to march,
You need to pay 30% on sep balance 30% in december
You need to pay 30% on sep balance 30% in december
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