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AR (RETIRED)     18 September 2021

Adavance Tax

I am retired, Senior Citizen (70 yrs old) taxpayer.

Coming month, I intend to close my Portfolio Management Service with a share broker.

I estimate that this will result in a Capital Gain (LTCG + STCG) Tax of about Rupees 2 Lacs.

The estimated TDS for the AY 2021-22 for my OS income (bank fixed deposits) will be around Rs. 25,000/-

Do I have to pay advance tax for the Capital Gain?



 2 Replies

Dhirajlal Rambhia

Dhirajlal Rambhia (SEO Sai Gr. Hosp.)     18 September 2021

No. Till you do not have any Business/Professional Income, you are relieved from paying Advance Tax.

You will be required to pay the tax on or before filing the return.

1 Like
Sourav

Sourav (Student)     19 September 2021

No need to pay
1 Like

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