.I am doing service and sold by house withing 3 yrs.I want to know when should we paytax on STCG in a year as there is no option declare it in investment declaration form in company. Also I like to know I have perchased new flat worth 55 lakhs and for the same I paid all amount including loan in May13. Only due to the unavailibility of owner I have done registration on 10th June13. Do I need to pay TDS on my home purchase?
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Stcg and tds on house
Replies (3)
Dear Nilesh,
you can pay tax on STCG as advance tax upto 15/03/2014 as the second installment has been elapsed which was 15/12/2013. show the amount of cap. gain in ITR and file ITR properly.
again you have asked for the TDS on purchase on house. if you paid the total amount before 01/06/2013, you dont need to deduct tax on it no matter u hv registered the house after 01/06/2013. if u paid any amount whether part or full after 01/06/2013, you have to deduct tax on that part.
hope this information will help you and pls ask for any other assisstance. thnx
Dear Nitin,
Thanks a lot for detailed information.It definitely give me some relaxation.
If I am correct I need to use below details while paying advance tax.
CHALLAN NO./ITNS 280
(0021)INCOME-TAX (OTHER THAN COMPANIES)
(100)ADVANCE TAX
and I don't have to pay additional charges like interest etc if I pay tax before 15th Mar2014.
Kindly confirm.
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