Capital gain tax,which challan should be used to pay the short term capital gain tax?

Question

this year I made some short term capital gain,I wan to pay tax,there are 4 challans available in incometaxindia.gov.in,which one should be used.

Answer 1

STCG tax for FY 07-08 should be paid as self assessment tax by filling Challan ITNS - 280.

If STCG tax for FY 08-09 is more than Rs.5000/- than pay advance tax in the 1st week of Sept. by filling the same challan.

Answer 2

You do not pay short term capital gains tax.

If gain occured in FY 2007-08, you must complete your income tax return ITR-1, ITR-2 or ..

In the return, you will report short term capital gain and then compute the total amount of income tax you owe. You deposit the tax as "self assessment tax" using challan ITNS-280.

If gain occured in FY 2008-09, then you deposit it using ITNS-280 and select Advance Tax (100).

For information on your Income Tax return and to download the forms, go to http://mytaxes.in/index.php?topic=32.0.

If you want to file online, read http://mytaxes.in/index.php?topic=94.0