If I sell Shares within 12 months of buying, I understand it is considered as STCG and I should pay 15%. But should I pay it as advanced tax at the end of that quarter or can I pay at the end of the year?
I got SMS that I need to pay advacned tax by 15th Sep but not sure I should be paying it. If it is all legal and I can by the end of year (without any penalty), I would like to do so.. Please give your opinion..
It is to be paid fully as and when the STCG tax liability of the that quarter arises.
Otherwise interest liability gets attracted.......
Thank you sir!
Most welcome........
If your tax liability is more than Rs.10,000 then you are liable to pay advance tax by the end of the quarter.
That message which you received is a common push message from Income Tax department which has been sent to many assessees in common.
Yes, Mr. Abhisheik has rightly noted....... the general alets from department.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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