08 February 2016
i am senior citizen . my source of income is rent income, other income , capital gain . whether i am applicable for the payment of Advance tax if not having business income
08 February 2016
1. Advance tax is payable if the total tax liability after reducing the TDS / TCS is more than Rs. 10,000/-; 2. Senior citizens (i.e. resident individuals aged 60 years or above) who do not have any income from business / profession are exempted from the payment of advance tax w.e.f. 01/04/2012.
26 November 2016
Yes, senior citizens and super senior citizens are exempted from 1st April,2012 from payment of advance tax if his total tax liability after deducting TDS/ TCS is Rs 10000 or more.but they should not have any business/professional income.
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