26 January 2020
My question is ,one pension holder's income cross the taxable limit like pension and other source of income e.g.Interest income from Interest on F.D. His net tax payable is 42,000 approx after deduction of 80D,has no LIC etc under section 80C during A.Y 2020-21.How he paid the Income Tax by self assessment tax or advance tax.Please let me know at the earliest. Thanks, Buddha deb Das
26 January 2020
Advance tax is not mandatory for senior citizens getting pension income , if you invest in 150000/- 5 years tax saver FD you can avoid tax liability .
CAclubindia
