Should I pay Advance Tax when off-setting Capital Loss

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  1. giridharan_caclub

    giridharan_caclub New Member

    I made short term capital loss in the previous financial year to the extent of Rs. 50,000. I have filed my income tax return with this details. In the current financial year I made some STCG (profit).
    I believe I should not require to pay the advance tax till I my STCG (profit) exceeds Rs. 50,000.
    (or) I should pay the advance tax in the specified date and should claim the refund thru filings.
    Kindly clarify.
     
  2. Aman Chugh

    Aman Chugh Member

    You can claim the set-off of capital loss from capital gains and therefore not required to deposit advance tax in this case
     
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