banner_ad

Capital gain tax

Tax queries 219 views 3 replies

A senior citizen lady of 83 years has sold her property for Rs.2.65 crore. She is not purchasing any new property and hence capital gain tax will be applicable. The entire sale consideration was received by her on 23.08.2017. I want to know whether the capital gain tax amount is payable immediately or can be paid at the time of filing of return after 31.3.2018.

Replies (3)

As per section 207, a resident senior citizen (i.e., an individual of the age of 60 years or above) not having any income from business or profession is not liable to pay advance tax.........

As such she can pay self assessment tax before filling return.

Thank you Sir. I was just confused whether capital gain tax can also be included in the exceptions for Section 207. I had read that otherwise capital gain tax is to be paid in the same quarter as the sale.

Thank you for your clarification.

 

The main reason being TDS u/s. 194IA would have been deducted.....


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
19 May 2026
Accountant

ca kunjan

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
26 May 2026
CA / MBA (Finance) / CMA / M.Com (Finance)

Sri Aurobindo Gnostic Centre of Education

New Delhi

CA

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
07 June 2026
Tax Associate

Rajkumar Jain & Co.

Ahmedabad

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details