Under section 404 of the Income-tax Act, 2025, advance tax is not payable by an assessee during a…

Section 404 of the Income-tax Act, 2025 makes advance tax payable only where the tax payable during the financial year, computed under section 405 after reducing tax deductible or collectible at source, is Rs. 10,000 or more. Advance tax is therefore not payable if that amount is "less than Rs. 10,000". Separately, section 403(3) exempts a resident individual aged sixty or more who has no business or professional income. This corresponds to section 208 of the repealed Income-tax Act, 1961.