Paying taxes is a crucial thing and if you fail to pay it, be prepared to face serious consequences in the future. I was also not much aware of the several taxes earlier. But once I started paying taxes, I came to learn a lot of things and one of them is the payment of advance tax on capital gains. As per Section 208, an individual whose tax liability is Rs 10,000 (after deducting prepaid taxes like TDS) or more is required to pay his or her tax in advance as advance tax. It is also known as earn tax and needs to be paid in installments as per the due dates allotted by the Income Tax Department.
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How does one pay the advance tax on capital gains?
I have seen many people asking the question:
how to pay advance tax on capital gains? So let me share every step to answer it properly.
Visit the TIN website or click on
https://onlineservices.tin.egov-nsdl.com/etaxnew/tdsnontds.jsp
Select the challan number “ITNS 280”
Select “Tax Applicable (0021) IncomeTax (Other Than Companies)
Select (100) “Payment of Advance Tax” as a type of payment
Select the mode of payment
Enter you PAN number
Select the “Assessment Year”
Provide your contact details
Enter the Captcha Code and click on “Proceed”
Verify the details and click on “Submit”
You need to do the payment
You will get the challan so do keep it safely
I hope by now you have understood who is having the advance tax liability on capital gains and the process of paying it as well. You need to pay this tax before 15th March of the year or maximum within 31st of March.
I hope these steps have answered
advance tax on capital gains
Read More:What are the last dates for advance tax payments?
When does one have to pay advance tax?
What is an advance payment of tax?
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How To Pay Advance Tax On Capital Gains?
Jennifer
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3 Year
2022-09-19T09:32:03+00:00 2022-09-19T09:32:05+00:00Comment
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