TIME LIMIT FOR PAYING LONG TERM CAPITAL GAIN TAX

Forums Capital Gains TIME LIMIT FOR PAYING LONG TERM CAPITAL GAIN TAX

TIME LIMIT FOR PAYING LONG TERM CAPITAL GAIN TAX

I AM SENIOR CITIZEN AND SOLD FLAT AFTER 20 YEARS IN APRIL 18 WHAT IS TIME LIMIT TO PAY CAPITAL GAIN TAX IS IT 6 MONTH OR CAN PAY BEFORE FILING RETURN.

Profile photo of M B BARVE Asked By: Anonymous 4 replies 2 helpful answers Last Updated: 3 weeks, 6 days ago
  • Profile photo of M B BARVEAnonymous

    I AM SENIOR CITIZEN AND SOLD FLAT AFTER 20 YEARS IN APRIL 18 WHAT IS TIME LIMIT TO PAY CAPITAL GAIN TAX IS IT 6 MONTH OR CAN PAY BEFORE FILING RETURN.

  • Profile photo of Priyanka JhaverPriyanka Jhaver
    Moderator

    Bein a senior citizen, you are not liable to pay advance taxes unless the income is generated from the Business. So you can pay the taxes on sale of property before filing your tax return.

    I would recommend as this is a property sale transaction it is better you consult a tax expert so that it gets reported accurately.

    • Profile photo of M B BARVEM B BARVE
      Participant

      reported accurately means what I am filing my return for last 30 years and i can calculate capital gain.

  • Profile photo of Nitesh BindNitesh Bind
    Participant

    You can pay before the filing of return the amount of Self Assessment tax under section 140A as per your computation. And i know you can calculate it yourself sir. Thanks.

  • Profile photo of Nitesh BindNitesh Bind
    Participant

    Still, if you need any further information regarding anything, Please reply here. Thank you very much.

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