ADVANCE TAX PAYMENT IN FY

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My mother is a senior citizen and files ITR. Her main income sources are from bank interest and pension.

Q1--Even though senior citizens are exempt from advance tax but still she can pay advance tax voluntarily??

Q2--  can she pay full advance tax in March in one time or rather pay in 4 instalments???

 

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On 01 August 2021 at 15:30 Report
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Quick Summary
This discussion clarifies whether senior citizens, typically exempt from advance tax, can choose to pay it voluntarily. The consensus is yes, they can pay advance tax if they wish. Regarding payment timing, it's confirmed that they can pay the full amount in March or opt for instalments, as there's no penalty for late payment if advance tax isn't mandatory for them.

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748 Points Posted on 01 August 2021
1.yes 2.pay b4 filing returns or in Mar
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On 01 August 2021 at 15:50
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1359 Points Posted on 01 August 2021
For 1st yes she can pay.
for 2nd as your choice as advance tax liability does not arise on her. So there is no interest is chargeable u/s 234C.
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On 01 August 2021 at 16:51
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Chartered Accountant
16188 Points Posted on 01 August 2021
Yes she can pay advance tax.

You can pay in one time also
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On 01 August 2021 at 16:55
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1175 Points Posted on 02 August 2021
When advance tax is not applicable, then, why to pay??
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On 02 August 2021 at 19:48

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