Advance Tax on LTCG on sale of property

695 views 2 replies

I am a senior citizen having sold my ancestral property on 01.07.2025. 1% TDS on total consideration is already deducted by the buyer. Presently, I intend to pay tax on total LTCG. My query is

 1. Whether advance tax is payable? If so, at what rates since 15th June is over?

2. What if I decide to take benefit u/s 54 or 54EC later on?

3. Whether as senior citizen, is this advance tax exempted from prepayment? 

Thanks in anticipation. 

 

 

Replies (2)

@ Rajiv Gupta

Following are answers to your queries:-

  1. Since you are a Sr Citizen, there is no need for paying any advance tax. You will need to pay Self Assessment Tax in the next assessment year AY2026-27, before filing the IT Return in Year 2026 [Not present year].
  2. For taking benefit of U/S 54, you have time till you file your AY2026-27 IT Return.
  3. I have answered in 1. 

Thank you Sir. It's really appreciated. 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDD

Boutique Investment Bank & Transaction Advisory Firm

Gurgaon

CA

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details