Challan for filling up long term capital gains tax
This query is : Resolved
10 February 2013
My aunt sold some property and has to pay long term capital gains tax. She has a savings bank account in Indian Overseas Bank and ICICI Bank. My queries are: 1)Which challan/form to fill in?
2)Does she have to mention anywhere in the form that the tax is on account of long term capital gains or she just has to mention it is "Income Tax"?
3)Whether direct debit of the savings bank account is possible or she has to submit a cheque for the tax amount?
4)What precautions should she take as she will be filling up the challan for the first time?
5)What details should necessarily appear on the challan receipt?
6)Can the tax deposit confirmation be viewed on 26 AS (of NSDL) or on the Income Tax website and in how many days will the tax credit be confirmed there?
2)Does she have to mention anywhere in the form that the tax is on account of long term capital gains or she just has to mention it is "Income Tax"?
3)Whether direct debit of the savings bank account is possible or she has to submit a cheque for the tax amount?
4)What precautions should she take as she will be filling up the challan for the first time?
5)What details should necessarily appear on the challan receipt?
6)Can the tax deposit confirmation be viewed on 26 AS (of NSDL) or on the Income Tax website and in how many days will the tax credit be confirmed there?
10 February 2013
First you should have to determine the Amount of Tax, and check if it could be saved. Take a Professional's Help for that.
Then you need to pay the amount in Challan 280. you can pay it online as well through online challan 280.
it will take 15 days to 1 month for 26as to get updated
Then you need to pay the amount in Challan 280. you can pay it online as well through online challan 280.
it will take 15 days to 1 month for 26as to get updated
Message likes :
1 times
10 February 2013
For Challan you may go to
www.ggassociates.in
under utilities menu go to Tax epayments and then to Income Tax & TDS
www.ggassociates.in
under utilities menu go to Tax epayments and then to Income Tax & TDS
Message likes :
1 times
11 February 2013
1. The form is ITNS 280 - https://onlineservices.tin.nsdl.com/etaxnew/PopServlet?rKey=19428770
2. Select Income Tax(Other Than Companies). There is no place to mention whether it is on Long Term Capital GAins.
3. Paying tax online is possible in which case funds will be directly debited from your account. If you pay manually you wil have to submit a cheque.
4. As precaution you must ensure that the PAN and the Assessment Year is correctly mentioned. Also nature of tax i.e Self Assessment or Advance Tax etc needs to be filled.
5. Challan receipt should have the PAN, name of assessee, amount of tax, date of deposit of tax, nature of tax i.e other than cos tax or companies tax etc
6. In case of e-payment of tax the same should be updated within 3-5 days. Other wise 10-15 days in case of manual.
2. Select Income Tax(Other Than Companies). There is no place to mention whether it is on Long Term Capital GAins.
3. Paying tax online is possible in which case funds will be directly debited from your account. If you pay manually you wil have to submit a cheque.
4. As precaution you must ensure that the PAN and the Assessment Year is correctly mentioned. Also nature of tax i.e Self Assessment or Advance Tax etc needs to be filled.
5. Challan receipt should have the PAN, name of assessee, amount of tax, date of deposit of tax, nature of tax i.e other than cos tax or companies tax etc
6. In case of e-payment of tax the same should be updated within 3-5 days. Other wise 10-15 days in case of manual.
Message likes :
1 times
12 February 2013
Thank you, Sirs! I am indeed grateful to you!
Kind Regards/Kapil Tiwari
Kind Regards/Kapil Tiwari
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
- Depreciation of fixed assets- coop housing society in mumbai
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- DIN reactivation
- Management System (IMS)
- 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
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
