04 June 2016
I comes under super senior citizen slab rates, i m partner in firm , I act role of Sleeping partner in the firm, I am liable to pay advance tax or exempted ? Please advice.
04 June 2016
Even if you are a super senior citizen who is not actively engaged in the partnershipfirm, you are not exempted from paying advance tax. However, you need pay advance tax if the estimated tax liability is within Rs.10000
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