Please Help: Payment of Advance Tax in case of senior Citizen
Posted Date : 19-Feb-2015 , 02:27:24 pm | Posted By: Puneet Khandelwal
Category :
Income Tax | Answers :
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A Resident Senior Citixen not Having Income from the head PGBP not lisable to make payment of Advance Tax. I want to know that a Senior Citizen having income from Long Term Capital Gain (LTCG) liable to pay the Advance TAX. |
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| Posted By : |
21-Feb-2015, 03:16:05 |
| As per Section 207 (2) of the Income Tax Act 1961,a resident senior citizen (60 years or more) who does not have income chargeable under the head 'PGBP' is not required to pay advance tax. It means that if you have taxable income other than income from business and profession, then you are not required to pay advance tax. |
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