Ad-Free CAclubindia and Daily Updates on your mobile. Subscribe Now!

234 B and C

Dheeraj Sharma (11 Points)

03 December 2019

is 234b and 234 c applicable for senior citizens resident of india and having income from LTCG ?

Reply
Follow
Share

3 Replies

Kapadia Pravin (17259 Points)
Replied 03 December 2019

No,
Not applicable provided he doesn't have income under PGBP

Upgrade to CAclubindia Pro. Subscribe Now!

AKASH DHANUKA (42 Points)
Replied 03 December 2019

No the chapter of Advance tax for resident senior citizen is not applicable provided they don't have any income chargeable under the chapter of PGBP

Shivam RC (Student) (23683 Points)
Replied 05 December 2019

No not applicable.

As per the Provision of Section 207(1) and 208 of the Income Tax Act 1961, liability for payment of ADVANCE TAX arises only when the Advance Tax payable is Rs. 10,000 or more. However Resident Senior Citizens, having no income under the head PGBP, are not required to pay Advance Tax.

1 Like