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Long Term Capital Gain for AY: 03-04

Tax queries 1396 views 3 replies

In AY: 03-04 my Total Taxable Income is Rs. 51,38,870/- (including Long Term Capital Gain from Sale of Shares is Rs.47,30,480/-). TDS deducted by others Rs.57,914, Advance Tax paid on 14-12-02 is Rs.3,00,000 and on 27-02-03 is Rs.2,00,000/-. I have paid self assessment tax Rs. 45,104 on 30-08-2003 (including interest U/s 234C Rs.2529 and 234B Rs. 2444/-).

Now I have received and intimation U/s 154 on 24-03-2009 where interest U/s 234C is calculated Rs. 31,670/- which I think is wrong and submit rectificateion letter U/s 154.

Please suggest me the right calculation of interest and for any other information please call me at 09231812209.

Subhajit

 

Replies (3)

Dear Subhajit, I would require following information from you:-

1) The month (if you cannot recall the exact date) in which Shares were Sold..

2) The Taxable Gain which you have mentioned have been calculated WITHOUT INDEXATION of cost of acquisition??

3) The date/month in which you have Filed your Return of Income..

4) WHETHER THE DUE DATE FOR FILING Return was extended by 1 month in Assessment year 2003-04 (I am trying to search this thing from my side also) 

I am enclosing herewith a file about the details of calculation of LTCG (without indexsation)

The date of filling return is 24-09-2003.

I dont know whether the due date of filling return was extended or not. According to my order u/s 154 due date was 30-11-2003.

Please help me in details to calculate the interest U/s 234C. According to order U/s 154 they have only charged interest U/s 234C of Rs. 31670/

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