Advice for form filling (ITNS 280) for payment of "long term capital gain tax" on sale of property

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This query is : Resolved

professional (Querist)

09 March 2022 Sir,
Seeking advice on form filling (ITNS 280) for payment of any LTCG TAX on sale of property, in FY21-22, by 15th march-2022

1) Whether one should select option (100)-> which is Advance Tax or (300)-> which is Self assessment Tax or (400)-> Tax on regular assessment ?

2) I had selected (100), considering that this is advance payment, as it is being executed before deadline of 15th march 2022, however it seems several earlier posts in CA-Club, have suggested, to select option (300) which is self assessment tax. Hence the confusion.

3) Please advice whether there is a mistake in my selection of option (100)- advance Tax, or is it correct.

4) If it is incorrect, how can we get this mistake corrected, as the telephone no of TIN call center (020-27218080) is very hard to reach.

5) Lastly in the INTS 280 form there are also other options, which have to be selected in details of payment such as: "Income Tax, or Surcharge, or educational cess, or interest, or penalty, or others". Which option is correct here ?

6) As there was no option for "capital gain tax", I had selected "Income Tax". Is it correct or wrong, and if incorrect, how to get this rectified.

Will appreciate valuable advice from experts.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

09 March 2022 1 Either one 100 or 300 is right.
2 No problem it can be considered as advance tax.
3 Your selection is right.
4 correction not required.
5 Income tax is the right option.
6 It's right no need for correction.

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