Chartered Accountants, practicing CA’s, students and related industry professionals may connect with users of similar interests. To raise and discuss issues related to finance and taxation. The objective of this group is to address concerns and bring out feasible solutions for making a strong communication network for all related audience.

Advance Tax

1 reply, 2 voices Last updated by Akash Rohada 5 months, 1 week ago
Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
  • #8603

    Priya Bhandarkar

    Who is not required to pay Advance tax as per the Income Tax Law?


    Akash Rohada

    Following aren’t required to pay advance tax under the Income-Tax Law:
    • A resident senior citizen (an individual of the age of 60 years or above as on the last day of the previous year.) not having any income from business or profession is not liable to pay advance tax.
    • A taxpayer who opted for presumptive taxation scheme under section 44AD or section 44ADA is liable to pay 100% of advance tax by 15th March.

Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.