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Capital Gain Advance Tax

Others 502 views 4 replies

Filing ITR4 last 4 years (presumptive taxation 44AD) for Business Income + Other Sources. Advance tax until now was due on or before 15 March of AY. 

1)  In 4th week of September 2023, I sold a real estate property. What is the last date to pay Advance Tax for LTCG? 15 October or 15 December?

2) My Business income is still the same. Can I still opt for 44AD for tax on BI + OS?

3) For AY 2024-25 (FY 2023-24), in which ITR form should I file returns for LTCG & presumptive taxation under 44AD of (BI + OS)  ?

Thanks & Regards

 

 

Replies (4)
1. 15th December
2. yes.. btw 44AD is for BI only
3. ITR 3 unless any change in form gets notified

Thankyou very much Sir. To avoid interest/penalty I am paying advance tax + sufficient surplus amount : all under minor head Advance Tax (100) without breaking up as surcharge, cess. Can the surplus amount later on while filing returns, be adjusted for surcharge & cess or I have to pay them accurately under appropriate heads? Thanks again.

No need to breakup. No need for accuracy into appropriate heads. Can be adjusted.

 

Welcome

Thankyou very much sir, Again. (Without seeing your reply I posted another question in forum. Unable to delete. Sorry about that)


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