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

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This discussion clarifies how to correctly fill out the ITNS 280 form for paying Long Term Capital Gains (LTCG) tax on property sales. It advises selecting 'Self Assessment Tax' (300) and 'Income Tax' for payment. The thread also reassures users that minor errors, like selecting 'Advance Tax' (100) instead of 'Self Assessment Tax', are generally acceptable and can be rectified by correctly filing your Income Tax Return (ITR).

professional

professional (Querist)
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09 March 2022 Sir,
While filling ITNS 280, which options needs to be selected for payment of LTCG Tax on sale of property:

1) whether to select --> (100) or advance tax, or (300) self assessment tax, or (400) tax on regular assessment ?

2) In the payment details, whether to select "income tax" or "others", as there is no section for "capital gain tax"

3) In case there is a mistake in selecting correct option, how to get the same rectified.

Thanks indeed,

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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09 March 2022 1 Select 300.
2 select Income tax.
3 No need for rectification with challan number you can file ITR it will be accepted.

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professional

professional (Querist)
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14 March 2022 Sir,
I had made payment by selecting option (100) which is advance TAX, instead of (300), which is self assessment Tax, as payment is made before the 15th March. Hope it will not create a problem. Pls do clarify.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 March 2022 It will not create any problem advance tax is also a right option.

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