1. If tax payable is upto Rs 10,000
Or
2. In case of Resident Senior Citizen not having PGBP Income
Senior citizen
+
Not having PGBP income
+
Resident
3. Assessee covered under section 44AD (Presumptive Business Income)
(If he has other income also, other than Section 44AD income, then he is liable to pay Advance Tax on it, only Section 44AD income is exempt from the provisions of Advance Tax)
(New Amendment from 1-6-2016)
Now They have to Advance tax by 15 th march
Note: -
1. Exemption is only for Section 44AD and not for section 44AE,
Section 44AE deals with Assessees who are in business of plying/hiring/leasing goods carriages. They have to pay advance tax
2. Senior Citizens having PGBP Income
They have to pay advance tax if tax payable is > 10000
However if they have other income like pension income or interest income,then there is no liability for Advance Tax
