Advance Tax By Senior Citizen is not Required

Описание к видео Advance Tax By Senior Citizen is not Required

Any taxpayer whose estimated tax liability for the year exceeds Rs. 10,000 has to pay his
tax in advance by the due dates prescribed in this regard. However, if a person satisfies
the following conditions, he will not be liable to pay advance tax:
1) He is an individual
2) He is resident in India as per the Income-tax Act
3) He is of the age of 60 years or above
4) He is not having any income chargeable to tax under the head “Profits and gains
of business or profession”

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