Answer

1. F

   Facts

   Sec 234C interest on deferment of advance tax is not charged on capital gains for instalments due before the gain arose, if tax is paid in the later instalments. The rectification service has a request type called Additional Information for 234C Interest to give the date wise break up.

2. P

   Provisions and law

   • Sec 234C (now Sec 425)Interest for deferment of advance tax instalments
   • Sec 154 (now Sec 287)Rectification of mistake apparent from record in an intimation or order
3. A

   Analysis

   If you made a gain of ₹4,00,000 on 10 February and paid tax on it by 15 March, interest for June, September and December instalments should not include that gain. If the return did not have the quarter wise break up of capital gains, CPC may charge interest as if the gain was spread across the year. Enter the date wise break up through this request type, and the interest is recomputed.

4. C

   Conclusion

   1. 1Get the contract notes or capital gain statement with sale dates
   2. 2Work out gains by quarter as in Schedule CG
   3. 3File Additional Information for 234C Interest with the break up
   4. 4Check the revised interest in the rectification order

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.