LTCG Tax & Tax Payment

This query is : Resolved

TaxDoubter (Querist)
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12 September 2019 I have sold few shares which has been with me for several years and providing the details below.

Profit: Rs.19,11,008/-
Exemption: Rs. 1,00,000/-
----------------------------------------
Actual Profit: Rs.18,11,008/-
Loss from
Previous Year:Rs. 40,156/-
--------------------------------------
Actual Profit: Rs. 17,70,852/-
10% Tax: Rs. 1,77,085/-
4% Cess: Rs. 7,083/-
Total Tax: Rs. 1,84,168/-

Is my above calculation correct? Please let me know.

Do I need to pay the complete Tax of Rs.1,84,168/- now itself or can I pay 45% i.e.Rs.82,876/- now and pay the rest later?

Experts please suggest.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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12 September 2019 Yes calculation is right if you don't have other income reduce basic exemption of 2.50 lacs. Pay 45% now.

Message likes : 1 times

Gokul Sharma

Gokul Sharma (Expert)
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13 September 2019 Sir what is 45% and why it is paying immediately ?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 September 2019 It's advance tax 45%; payable in September.

Gokul Sharma

Gokul Sharma (Expert)
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13 September 2019 ok thanks sir ........for levy of lower amount of 234b and c

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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13 September 2019 Yes......... Pay it on or before 15th.

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