Interest under 234 c

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 June 2014 Assessee has incurred an LTCG of 16lacs as on 20/12/13 but advance tax paid on 14/03/14 will it attract 234 c if yes how much?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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19 June 2014 No it will not attract any interest u/s 234C since the advance tax liability paid before 15th March. You are liable to pay advance tax for Capital Gain only after the income has arisen.

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Rupesh Jain

Rupesh Jain (Expert)
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19 June 2014 YOU HAVE TO PAYE ADVANCE TAX INSTALLMENT TILL 15.3.2014.

YOU ALREADY PAY TAX ON DT. 14.3.2014.

SO FOR LTCG TAX INTT U./S 234C NOT APPLICABLE

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