Liabiality payment of advance tax in case of senior citizen

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pravindsangani (Querist)
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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

CA CMA CS Ram Pavan Kumar Melam

CA CMA CS Ram Pavan Kumar Melam (Expert)
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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.

Advocate

Advocate (Expert)
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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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