C.—Advance payment of tax44Liability for payment of advance tax.207.
(1) Tax shall be payable in advance during any financial year, in accordance with the provisions of sections 208
(both inclusive), in respect of the total income
of the assessee
which would be chargeable to tax
for the assessment year
immediately following that financial year, such income
being hereafter in this Chapter referred to as "current income".(2) The provisions of sub-section (1) shall not apply to an individual resident
in India, who— (a
) does not have any income chargeable under the head "Profits and gains of business
or profession"; and (b
) is of the age of sixty years or more at any time during the previous year.