Applicability for payment of Advance Tax - Section 207

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the assessment year immediately following that financial year. Such total income shall be referred to as "Current income" in this Chapter. Senior citizen not required to pay advance tax [Section 207(2)] If a person satisfies the following conditions, he will not be liable to pay advance tax: * He is an individual * He is resident in India as per the Income-tax Act * He is of the age of 60....