Selling a property, need to know abt capital gains tax.

Taxes on sale of property are to be bifurcated into short term capital gain and long term capital gain according to the period gap between your purchase and sale. And accordingly, the tax rates are different for both.

Regarding the payment, you may pay advance tax before 31st March 2016 or else you can pay tax as self assessment tax on or before the due date of filing income tax return i.e. 31st July 2016.