Property sale LTCG tax payment

Others 261 views 5 replies

I am closing my 54A capital gains account as the 2 year time limit from date of sale is over.

I have to pay LTCG tax on this Long Term Capital Gain.

Under what heading and section do I pay this tax online? 

Is it to be paid as Advance Tax or as Self Assessment Tax?

Early advice would be much appreciated 

Rgds to all experts in the CAClubIndia

 

 

Replies (5)
  • Closure of CGAS account requires approval from jurisdictional income tax officer. Form G is required to be submitted for the closure of account along with jurisdictional income tax officer’s approval.
  • Approval is given based on payment of tax laibility.

Dhiraj Jee

Namaskar 

I wanted to know how to pay this tax, as Self Assessment Tax or as Advance Tax

Plz enlighten

It will be advance tax.            

Thanks a lot

Rgds

You are welcome.       


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