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Applicability of wealth tax for ca final exams

Akhil Kumar (Finance Professional) (45 Points)

20 April 2015

Dear friends,

Is wealth Tax Act applicable for CA Final november 2015 exams ?

ThankQ.

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7 Replies

Sathish M (Management Accountant) (40581 Points)
Replied 20 April 2015

Wait for announcement by ICAI

NAVIN AGICHA (HELPING HAND) (1313 Points)
Replied 20 April 2015

Hopefully it will not be applicable, so wait for announcement.

CA AnKiT BoHrA (AB) (Manager) (25955 Points)
Replied 20 April 2015

You need to wait for the notification from institute dear

Sunil Sharma (Finance Manager) (39 Points)
Replied 20 April 2015

Wealth tax abolition was raised only in this budget and hence forth only amendments which came before six months would be applicable and yea no where our institute would come out with as such notification..So as far as this time wealth tax is aapplicable and yea it may not from the next attempt..!!

Kishor Bhat (CA final CS executive (from Bangalore)) (1881 Points)
Replied 20 April 2015

200% sure, wealth tax is applicable for nov15 exam. Dt, Tel me wch assessment year is applicable for may15 & nov15????. i.e 2015-2016..then how come u guys telling wait for icai notifications friends. May15 & nov15 exam are based on AY 2015-16 or financial year 2014-15, in that year wealth tax was in force. Wealth tax has been abolished in this current budget and wont be there from AY2016-17. From May16 exam onwards wont be there. Akhil, u have to study wealth tax for nov15 and nothing notification will come from ICAI in this regard.