How Much Total Advance Tax on 10 Lakh it’s LTCG on Share.
also for Each Quarter how much i need to pay for 10Lakh LTCG
will it be as per Flat 10% as i sold after 2years LTCG or
as a Business Income as per income tax slab 30%
Advance Tax needs to be paid in 4 quarterly installments on your total estimated income for the financial year. LTCG on sale of equity shares is a special rate income taxable at 10% in excess of INR 1 lac.
You can enter all your incomes here to calculate your advance tax liability - Advance Tax Calculator
https://tools.quicko.com/advance-tax-calculator/
It is a comprehensive answer. Thanks. I have dividend taxed @20%, Bank savings and FD interest taxed @30% and deducted at source. In spite of this do we need to pay advance tax as mentioned above?
Please provide the link where we can get latest Excel utility.
Hey @sbhadti
Advance Tax should be paid if the total tax liability in the financial year exceeds INR 10,000. If your tax liability after deducting tax already paid and TDS deducted is above INR 10,000, only then you need to pay Advance Tax.
You can enter details of all your incomes, deductions, taxes paid and TDS deducted to calculate the final Advance Tax Liability if any.
https://tools.quicko.com/advance-tax-calculator/
You can download the income tax utility from here - Downloads | Income Tax Department