Payment of Advance Tax in certain cases

It is quite clear that senior citizens (60 years or more) do not have to pay advance tax if they do not have income under the head "Profit or Gains from Busiess or Profession"  However saw one or two conflicting advices. 

So just want to double confirm.  Do senior citizens having capital gains, dividend income and interest etc have to pay advance tax. 

Secondly, also wanted to confirm, when an individual turns 60 in the middle of current financial year, can payment of advance tax be avoided in the said "current financial year"

Replies (4)
Quick Summary
This discussion clarifies the rules around advance tax payments for senior citizens (aged 60 and above). It confirms that senior citizens are exempt from paying advance tax if their income does not include profits or gains from a business or profession. The query also addresses whether senior citizens with capital gains, dividend income, or interest income are liable for advance tax, and what happens if an individual turns 60 during the financial year.

  1. Correct, no advance tax liability as per said incomes.
  2.  Yes, he will be sr. ctz. for the year.

Thank you Dhiraj ji for your clarification.

You are welcome.                    

Senior citizens' advance tax exemption:
• Sec 207(2): a resident senior citizen (60 years or more) who doesn't have income chargeable under "Profits and gains of business or profession" isn't required to pay advance tax.
• If the senior citizen has business or professional income (even presumptive), advance tax applies.
• Interest under 234B/C doesn't apply to such exempt seniors.
• Pay self-assessment tax before filing the ITR (234A interest only if filed late).

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