dear sir,
advance taxa applicable on senior citizen, if yes share notification if any
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advance tax on senior citizen
Replies (6)
"As per section 207, a resident senior citizen (i.e., an individual of the age of 60 years or above) not having anyincome from business or profession is not liable to pay advance tax. Thus, the statement given in the question is false and hence, option (b) is the correct option."
if senior citizen earned income from business and prodession then in that case advance tax provision applicable otherwise no need to pay advance tax by senior citizen
is any 234a,b,c interest applicable
yes if he earned business income and not deposited on time
If he has income from PGBP, he has to pay advance tax other wise int u/s 234 b c would apply
interest under section 244c is apply when u have not paid tax on due date that is in four installment upto 15 March if tax is not paid upto ITR due date then section 234b is apply after 15 March and if tax is not deposited after ITR due date interest under section 234a is apply after ITR due date
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