Advance tax on short term capital gains
This query is : Resolved
01 August 2010
Should Advance tax be paid if short term capital gains on shares which are subject to securities transaction tax is ?
Shortterm capital gains Rs48000
It is very urgent because I have to submit the return before 4th August 2010. I am salaried employee
Should Advance tax be paid if short term capital gains on shares which are subject to securities transaction tax is ?
Shortterm capital gains Rs48000
It is very urgent because I have to submit the return before 4th August 2010. I am salaried employee
02 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.
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.
02 August 2010
Thanks. But my doubt is not completly resolved. I have not paid advance tax at all not even on 31st march 2010.
That means now I have to pay now Interest u/s 234B & 234C for delay in payment of advannce tax
That means now I have to pay now Interest u/s 234B & 234C for delay in payment of advannce tax
02 August 2010
Yes. You are correct. You will then have to pay interest u/s 234B & 234C for deferment of Advance Tax.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- GST ITC REVERSE
- Fixe term employment
- Is any professional CA is here please reply
- Consolidated financials
- TDS on TRUST
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- Section 50-fixed asset-->building ceases to exist
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
