Hello,
One of my friend sold his capital assets(share). he had short term capital gain on transfer rs 400000/- around. The said transfer was on 3rd of march2009. he has no other income. Is he liable to pay advance tax???
Thanks in Advance.
Menu
Advance tax
Replies (2)
yes. since it fall in last quarter
Advance Tax need not be paid for the first two periods. No interest will be chargeable as the capital gain has arised only in March. However, Advance Tax will have to be paid for the March quarter.
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
