Ch.8 · Capital Gains Tax on Mutual Funds · hard
What is 'advance tax' obligation for mutual fund investors?
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EXPLANATION
If an investor's total tax liability (including capital gains from mutual fund redemptions) for a financial year exceeds ₹10,000, they must pay advance tax in installments. For capital gains that are not predictable in advance, special rules apply: advance tax on capital gains arising after September 15 and before December 15 must be paid by December 15. Failure attracts interest under Sections 234B and 234C.
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