Please Help: Interest U/s 234C
Posted Date : 22-Jul-2011 , 07:50:03 pm | Posted By Vishal Gupta
My client is having salary income. he has earned capital gain of Rs. 1500000 in the month of December (i.e 15th December). his tax liability after TDS is Rs 400000. now my question is how interest u/s 234c will be calculated. will deferment for the month of september will apply or not.
Category : Income Tax | Answers : 2 | Comments : 1 | Hits : 1260
Answers
Answer By: CA Rajnish
Interest u/s 234C will not applicable on capital gain upto 15 sept.and thereafter recalculate the deferred percentage of tax i.e 60% of total tax upto 15 dec.and 100% upto 15Mar.
Answer By: CA VIKAS JAIN
first you hav to deposit taxes upto 15th dec by calculating taxes on salary income, and on last instalment you should deposit the balance amount of tax on salry income and the taxes on capital gain.
Comments
CA VIPIN GARG
23-Jul-2011 , 09:37:08 amDear Vishal Ji, first clarify about the capital gain income i.e what capital asset he/she has sold then only i can be able to answer..........................