How to calculate advance tax fy 2018-19

Hi,

I am trying to work out my advance tax payment FY18-19 (due on 15 Sep 18). With LTCG on equity wef 1/4/18, it is bit confusing hence seeking advice from experts. My income summary so far is as below:

Salary - Nil (retired)

Interest - 25000/-

STCG debt funds - 25000/-

LTCG debt funds - 1,25,000/-

LTCG equity shares - 3,75,000/-

Deductions : 40,000/-

Total income is 5,50,000/- and after deductions 5,10,000/-. I understand there is basic exempt slab of 2,50,000/- and that LTCG on equity is expempt for 1,00,000/-. LTCG on debt funds is charged flat at 20%. How should I compute my income tax due?

Replies (4)
deduction under chapter VI-A are not allowed in respect of capital gain
if you are senior citizen and you don't have income from business then there's no obligation to pay advance tax

How does 2.5 lakh base exemption and 1 lakh equity exemption work? In my case, is it correct to consider 3.5 lakh exempt? I am not a senior citizen.

short term and long term debt oriented funds are taxable. show the long term equity orientated funds as exempted income and show the rest under respective heads

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