Short term capital gain tax on sale of house property

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

05 September 2012 Possession of a flat was taken in Jan-12 and the flat was sold in July-12.
(1) Cost of Acquisition :-
Flat Cost :- Rs.825000
Stamp Duty + Registration = Rs. 58500
Advocate fees : Rs. 2500 (Receipt not available)
(2) Cost of Improvement :-
Fixing of Grills : Rs. 48362 (bills available)
(3) Cost of Disposal :
Advt. through website :- Rs. 1025(Receipt available)
Brokerage paid :- Rs. 25000 (Receipt available)
Total Cost of Flat :- (1) + (2) + (3)
= Rs. 960387

Sale price :- Rs. 1200000

STCG :- RS. 1200000- Rs.960387 = Rs. 239613

STCG Tax @30% works out to be Rs. 71884
SC & EDU Cess @3% = Rs. 2156
Total STCG TAX = Rs. 74040

To be paid before 15 Sept @ 30% = Rs.22212
Next 30% before 15 Dec = Rs. 22212
Next 40% before 15 Mar = Rs. 29616

(A) PLEASE LET ME KNOW WHETHER ABOVE CALCULATIONS ARE CORRECT OR NOT.

(B) ALSO LET ME KNOW THE CHALLAN NO. TO BE USED FOR PAYMENT OF STCG TAX ( I think it is ITNS 280, is it ?)

(C) The type of payment to be indicated in challan as Advance Tax or Self Assessment tax ?

Pl reply URGENTLY AS THE TIME FOR PAYMENT OF FIRST INSTALMENT OF STCG TAX IS UPTO 15-09-2012

Thanks in advance.

Querist : Anonymous

Querist : Anonymous (Querist)

08 March 2013
Possession of a flat was taken in Jan-12 and the flat was sold in July-12.
(1) Cost of Acquisition :-
Flat Cost :- Rs.825000
Stamp Duty + Registration = Rs. 58500
Advocate fees : Rs. 2500 (Receipt not available)

(2) Cost of Improvement :-
Fixing of Grills : Rs. 48362 (bills available)

(3) Cost of Disposal :
Advt. through website :- Rs. 1025(Receipt available)
Brokerage paid :- Rs. 25000 (Receipt available)
Total Cost of Flat :- (1)+(2)+(3) = Rs. 960387
Sale price = Rs. 1200000
STCG :- RS. 1200000- Rs.960387 = Rs. 239613
STCG Tax @30% works out to be Rs. 71884
SC & EDU Cess @3% = Rs. 2156
Total STCG TAX = Rs. 74040
To be paid before 15 Sept @ 30% = Rs.22212
Next 30% before 15 Dec = Rs. 22212
Next 40% before 15 Mar = Rs. 29616
PLEASE LET ME KNOW WHETHER ABOVE CALCULATIONS ARE CORRECT OR NOT.