Advance tax

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nikhil n vaghasiya ...........

nikhil n vaghasiya ........... (Querist)
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19 March 2014 dear sir who can pay advance tax?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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19 March 2014 Every assessee whose estimated tax liability after considering TDS is more than Rs. 10,000 is required to pay advance tax.

However, a senior citizen NOT having business income is NOT required to pay advance tax.

An assessee may voluntarily pay advance tax even if he is not liable to pay the same.