Applicability for payment of Advance Tax - Section 207

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..... the assessment year immediately following that financial year. Such total income shall be referred to as "Current income" in this Chapter. Senior citizen not required to pay advance tax [Section 207(2)] If a person satisfies the following conditions, he will not be liable to pay advance tax: * He is an individual * He is resident in India as per the Income-tax Act * He is of the age of 6 .....

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..... ying the tax rates in force. TDS/TCS and MAT credit shall be deducted to arrive at advance tax liability. * An assessee is required to pay advance tax if his liability for advance tax is ₹ 10,000 or more. General Information INCOME INCLUDES -- All income (including capital gains, winnings from lotteries, crossword puzzles, etc.).
Manuals, Ready reckoner, Law and practice, Reference G .....

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