Hi All,
I have sold my property this year and have incurred considerable amount of capital gains. I have few options before me to nullify the capital gains like investing in other property or some government bonds.
My question is if I need to pay advance tax now?
Thanks
Hi Raj,
If u have earned capital gain tax in current year and if u r sure of investing it by 31 march then u need not pay and advance tax right now. But if u r not sure about investing it by comming 31st march then u can deposit the said amount in Capital Gain account. This account can be opened in any nationalized bank and u can utilize that amount in investing it within the time specified in the Act under respective sections.
So u dont need to pay any advance tax......
hope my solution is able to solve your query
CAclubindia
