Advance tax applicability: estimated current income determines tax payments after deductions of prior credits and with senior exemptions. Applicability of Advance Tax requires taxpayers to estimate and pay tax during the financial year on projected total income for the next assessment year. Current income includes all taxable receipts, such as capital gains and winnings, and may include agricultural income for rate purposes. Advance tax liability is computed by estimating income, applying tax rates, and deducting TDS, TCS and MAT credit to arrive at net advance tax payable.