Please Help: Advance Tax on Capital Gain
Posted Date : 12-Sep-2011 , 11:58:07 am | Posted By Vandana
whether advance tax provisions applicable on capital gain tax or not?
Category : Income Tax | Answers : 2 | Comments : 0 | Hits : 702
Answers
Answer By: Ashish Karundia
Dear Vandana,
Advance tax is payable even in case of capital gains tax . However, the same shall be payable during a financial year only if the amount of tax payable by the assessee during that year, as computed in accordance with the provisions of this Chapter, is Rs. 10,000 or more. [ Refer Section 208 of Income Tax Act, 1961]
Advance tax is payable even in case of capital gains tax . However, the same shall be payable during a financial year only if the amount of tax payable by the assessee during that year, as computed in accordance with the provisions of this Chapter, is Rs. 10,000 or more. [ Refer Section 208 of Income Tax Act, 1961]
Answer By: Ketan Samdani
Advance tax payable on capital gains.
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