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advance tax on long term capital gains earned by senior citizen
pls suggest whether advance is payable on long term capital gains by senior citizen. section 207 only talks about income from business and profession.
Replies (6)
No advance tax liability over senior citizen, if no income from business or profession, not even for capital gains tax.
thank u
Welcome....
Thanks . I have a LTCG on sale of building . Advance tax is substantial .pl advise if I can pay this tax at time of submission of IT return .
Thanks .
Yes, if you are 60 years or above, and doesn't have any single penny of business/commission/professional income.
Thanks for prompt reply
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