Advance tax to be paid or not on LTCG on sale of HP
This query is : Resolved
01 December 2010
Hello friends,
one of our client is planning to sell two residential house properties. both are long term capital asset in the month of dec-10.
Tax on long term capital gain comes to Rs.300000
my question is how much advance tax should be paid on or before 15/03/11 assuming that his tax liability excluding tax on ltcg is Rs.5000/ for fy 10-11.
one of our client is planning to sell two residential house properties. both are long term capital asset in the month of dec-10.
Tax on long term capital gain comes to Rs.300000
my question is how much advance tax should be paid on or before 15/03/11 assuming that his tax liability excluding tax on ltcg is Rs.5000/ for fy 10-11.
01 December 2010
Rs.3,05,000/- has to be paid on 15/03/2011 to save interest.
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