Is advance tax payment essential for sr.citizen?

Friends, As I understand, usually, any serving or retired person or a businessman is required to pay Advance Income Tax quarterly. Failure in this action may attract some interest/penalty about @ 12%. I have heard that this is not necessary for Sr.Citizen - as they have been exempted. Sr.Citizen can pay the whole income-Tax amount just before filing the I.T.Return within its stipulated time limit or on or before declared last date for the Return. - Is this right? And also for Sr.Citizen/Pensioner, it is not required to instruct his/her Bank/Payer to make any monthly TDS. - Is this true? Please guide with detail. Navin Talati / 28-08-2015