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Sec 234

This query is : Resolved 
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(Querist)
08 July 2015 dear sir,
a person bought shares worth 100000/-. does he have to compute the profit that he could made by the shares and pay the advance tax?
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CA John Abraham Austin ACA

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CA John Abraham Austin ACA (Expert)
08 July 2015 Note the points:-

1. Advance Tax is applicable only if the estimated Income Tax liability (along with Cess@3%) exceeds Rs. 10,000/-.

2. Advance Tax is based on estimated tax liability. If your estimate of tax payability due to anticipated gain from the share trade exceeds the limit, then you should.
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