Poonawalla fincorp
Poonawalla fincorp

Advance tax

This query is : Resolved 
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(Querist)
03 November 2014 Sir,

senior citizen exempt from advance tax but if tax payable is more than Rs. 10,000 interest is applicable under section 234B & 234C.

Regards,
Mukesh
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Ganeshbabu K

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Ganeshbabu K (Expert)
03 November 2014 no interest applicable under 234B and 234C for senior citizen as per 207(2)
.
.
however above exemption allowed only if income does not include income from business or profession

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