§403
Section 403 — Liability for payment of advance tax
In plain terms: This section says advance tax is payable during a financial year on the current income (the total income chargeable for that tax year). It does not apply to a resident individual aged 60 or more at any time in the tax year who has no business or professional income.
(1) Advance tax shall be payable during any Financial year in respect of the current income of the assessee, as per the provisions of this Part.
(2) For the purposes of this Part, "current income" of a tax year means the total income of the assessee which would be chargeable to tax for such tax year.
(3) 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 tax year.