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interest on advance tax
A salaried person who has not paid advance tax where total tax liability exceeds 10000 but he has sold a land and bought a house in january.Is he liable to pay interest under sec234B and 234C including capital gains tax?
Replies (3)
First calculate the capital gain liability whether short term or long term.....
If LTCG..... deduction available u/s. 54F etc.........
LTCG has been computed and deduction claimed under sec54F.Is tax liability on LTCG is subject to 234B and 234C?
Yes.
But from the quarter CG tax liability arise.
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