![]() So, senior citizens are not required to pay advance tax even though their tax liability is Rs 10,000 or more. Senior Citizens are required to pay advance tax only if their total income includes income under the head ‘Profit and Gain from Business or Profession’ ![]() ![]() Under Income tax act, advance tax is required to be paid by all the assessees, if there is a tax liability in their hands, except -Īdvance tax is not required to be paid if total income tax estimated for the year is less than Rs 10,000/. Under Income tax act, advance tax is the mechanism by which Central Government collects taxes payable in the assessment year in previous year itself.
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