Hi,
I sold some unlisted shares on March 31st 2023 and received the proceeds in April. What is the rule for paying 'Advance Tax' for the gains from those shares. Since a new financial year has already started, should I pay the estimated tax as 'Advance Tax' or 'Self-assessment tax' to avoid interest/penalty.
Regards
Sri
I definitely will have to pay tax on top of what has been paid through Advance Tax. Should I pay under "Self-assessment" category?
Just for information, I have already paid more than 90% of my tax liability (even after including the long term capital gains from the shares sold on March 31st) through advance tax.
Thanks for the clarification.By additional tax you mean penalty/interest, right?
CAclubindia
