26 June 2013
I am filing the ITR-2 for A.Y. 2013-14 for a senior citizen (age:69yrs) who has tax liability of Rs.75500/- but the interest u/s. 234B and 234C is nil. I want to know that, is there any amendments towards not charging of interest under 234B & 234C for senior citizen from A.Y.2013-14?
26 June 2013
Senior citizens who do not have any income from business are exempted from the payment of advance tax w.e.f. 01/04/2012 i.e. from Assessment Year 2013-14.
Please refer section 207(2)of income tax act, 1961
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