Filing of wealth tax return in form no bb
This query is : Resolved
31 July 2014
Reference: As per Notification no. S.O. 1576(E) on dated 23-June-2014,
Query :Is wealth Tax return in form no. BB is mandatory for the assessee who covered u/s 44AB of IT Act? Or its just an option to file when the assessee's net wealth increase the limit of 30 Lakh.
Query :Is wealth Tax return in form no. BB is mandatory for the assessee who covered u/s 44AB of IT Act? Or its just an option to file when the assessee's net wealth increase the limit of 30 Lakh.
31 July 2014
those covered by tax audit for them only it is mandatory
31 July 2014
Its not an option.
For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but for other class of Assessees i.e. Individual/HUF liable to audit and Companies return of net wealth in FORM BB shall be furnished electronically under digital signature.
Return to be filed when Net Wealth Exceeds rs 30 Lacs.
For certain class of Assessee i.e. Individual/HUF not liable to tax audit e-filing is optional but for other class of Assessees i.e. Individual/HUF liable to audit and Companies return of net wealth in FORM BB shall be furnished electronically under digital signature.
Return to be filed when Net Wealth Exceeds rs 30 Lacs.
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