30 March 2015
assessee is resident senior citizen who is partner in firm but does not receive any interest or share of profit from the firm. But I.T. Department charged the interest U/sec 234b & sec 234C. but as per my knowledge senior citizen assessee who does not have business income need not required to discharge advance tax liability. Kindly clarify on the above do i require to pay off the liability or proceed for rectification? Kindly advise the same. Thanks in advance
CAclubindia
