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Advance tax for senior citizens
Hi,
If the assessee is a senior citizen and has speculation income from F&O along with interest income, is he still liable to pay advance tax considering that income from business & profession and income from speculation business are different concepts otherwise from tax perspective.
Thanks
Replies (2)
No separate concept. Its assessed under PGBP, and hence advance tax liability arises.
income from f & o is treated as non speculative business Income and advance tax liability arises.
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