Advance tax applies to all taxpayers, 

including salaried individuals, freelancers, and businesses in India.

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Senior citizens aged 60 or older who do not run a business are exempt from paying advance tax.

Taxpayers who have opted for the presumptive taxation scheme under sections 44AD and 44ADA for business income must pay the whole amount of their advance tax by March 15th.

Independent professionals such as doctors, lawyers, and architects who come under the presumptive scheme under section 44ADA must also pay their advance tax by March 15th.

Taxpayers must pay at least 90% of their total taxes as advance tax by March 31st.

Failure to make advance tax payments will result in an interest rate of 1% on the unpaid amount.

Advance tax payment can be made through the Tax Information Network of the Income Tax Department of India.

 Taxpayers should double-check all the data entered while making an advance tax payment to avoid errors.

A tax receipt will be generated after completing the payment, which includes payment details, BSR code, and challan serial number.

Advance tax payment is an essential requirement for taxpayers in India, and timely payment can help avoid interest and penalties.

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