Advance tax liability applies to current income; resident seniors without business or professional income exempt.

Advance tax is payable during a Financial year in respect of an assessee's current income. "Current income" means the total income chargeable to tax for that tax year. The advance-tax requirement does not apply to a resident individual who has no income under Profits and Gains of Business or Profession and who is sixty years of age or older at any time during the tax year.

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