PLEASE , I WANTED TO KNOW IF A SUPER SENIOR CITIZEN IS LIABLE TO PAY ADVANCE TAX IF HE OR SHE HAS INCOME FROM PARTNERSHIP FIRM AS THE SHARE OF INCOME IS EXEMPT FOR THE PURPOSE OF HIS/ HER INDIVIDUAL RETURN.
thanks and regards
chandru mirchandani
No, a super senior citizen is not liable to pay advance tax on their share of income from a partnership firm, as it is exempt from their individual return. However, any other taxable income they earn may still attract advance tax provisions.