Dear Sirs/Madam, I recently sold my 17% right in a commercial property(ancestral) after more than 30 years. The capital gain is based from 1981 is large. Should i pay Capital gain Tax as Advance tax before 15-9-15,15-12-15 and 15-3-16 or i can pay before the end of FY 2016. I am inclined to opt for 10% without indexation aas it is cheaper than 20 % with indexation. As the price in 1981 was negligible. Regards ASHOK
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Advance tax applicable to ltcg ?
Replies (2)
Yes, you should pay the advance tax amount in proportions specified in Act, by paying this u can save penal interest charged u/s 234c. As you mentioned, u have transferred share in commercial property then how can u use 10% tax rate for calculation of capital gain. 10% option is available for listed securities or units. Please clarify it
Yes i agree with chander
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