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of <h1>Taxpayers with liability over 10,000 must pay advance tax; exemptions for businesses under Section 44AD.</h1> Section 208 of the Income Tax Act mandates that taxpayers with a tax liability exceeding 10,000 in the year before the assessment year must pay advance tax. Senior citizens earning income from sources like rent or interest face additional compliance requirements. Advance tax is payable during the financial year if the liability is 10,000 or more. However, taxpayers conducting business under section 44AD on a presumptive basis at 8% of turnover are exempt from paying advance tax for income related to such business.
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