banner_ad

Advance tax payment for senior citizens / pensioner

294 views 11 replies
User Avatar

41 Points Posted on 19 August 2022
Is their any exemption for payment of advance tax of senior citizen/ pensioner.
Reply Share Follow
On 19 August 2022 at 18:25 Report
Replies (11)
User Avatar

SEO Sai Gr. Hosp.
211643 Points Posted on 19 August 2022

Yes. According to Section 207 of the Act, a resident Senior citizen (an individual of age 60 years or more) who does not have any income from business or profession is exempted from paying any advance tax.

581 Reply
On 19 August 2022 at 19:21
User Avatar

Profession Business
28207 Points Posted on 19 August 2022
Another condition is there.
44 Reply
On 19 August 2022 at 19:54
User Avatar

Chartered Accountant
86505 Points Posted on 19 August 2022
@ Sabyasachi , What condition????
814 Reply
On 19 August 2022 at 20:37
User Avatar

CFO- at NHTF
58280 Points Posted on 19 August 2022
General exemption 10k liability
59 Reply
On 19 August 2022 at 22:22
User Avatar

Chartered Accountant
86505 Points Posted on 19 August 2022
It's a very general thing, no advance tax liability arises at all in this case.

But for senior citizen there is only one exception as discussed by Dhirajlal Sir
814 Reply
On 19 August 2022 at 23:34
User Avatar

CFO- at NHTF
58280 Points Posted on 19 August 2022
?? ..
59 Reply
On 19 August 2022 at 23:40
User Avatar

754 Points Posted on 19 August 2022
As per section 207, a resident senior citizen (i.e., an individual of the age of 60 years or above) not having any income from business or profession is not liable to pay advance tax.
1 Reply
On 19 August 2022 at 23:46
User Avatar

3145 Points Posted on 20 August 2022
@ Agree with CA Rashmi Gandhi mam and Dhirajlal
2 Reply
On 20 August 2022 at 08:31
User Avatar

CFO- at NHTF
58280 Points Posted on 20 August 2022
@ Dhananjay Bhatt,

It depends on your taxable income
59 Reply
On 20 August 2022 at 15:49
User Avatar

Chartered Accountant
86505 Points Posted on 21 August 2022
How???? @ eshwar reddy
814 Reply
On 21 August 2022 at 00:13
User Avatar

Profession Business
28207 Points Posted on 21 August 2022
Tax liability aggregating rs. 10000 or more.
44 Reply
On 21 August 2022 at 09:11


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading

Latest Job Openings

View all
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
14 May 2026
ICSI Trainees for 21 Months and Semi-Qualified CS

CMNITY HIRE

New Delhi

Others

View Details
Company
08 May 2026
Paid Assistants

Quick Taxperts Private Limited

Bengaluru

Graduate (Any)

View Details
Company
14 May 2026
Senior Associate

ABHISHEK SHANKAR AGARWAL & ASSOCIATES

Kolkata

CA

View Details
Company
04 May 2026
Articleship

S.K Gairola & CO

New Delhi

B.Com

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
ARTICLESHIP 05 May 2026
ARTICLED ASSISTANT

JS ADVISORS

New Delhi

CA Inter

View Details