 Under this schemes, every assessee is required to pay tax in a particular financial year, preceding the assessment year, on an estimated basis.However, if such estimated tax liability for an individual who is not above 60 years of age at any point of time during the previous year and does not conduct any business in the previous year, and the estimated tax liability is below ₹ 10,000, advance tax will not be payable.Until FY 2015–16, the due dates and amount of advance tax were different for corporate taxpayers and individual taxpayers.However, from FY 2016–17, both categories of taxpayers were brought at par.