Advance tax for share sale on March 31

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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

Replies (5)
Advance tax time period is lapsed
Not necessarily.

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. 

You need to pay as self assessment.

since you have already paid 90% tax, before march, you wont have to pay any additional tax.

Thanks for the clarification.By additional tax you mean penalty/interest, right?


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