Interest on wealth tax
This query is : Resolved
26 November 2014
Mr.A, Mr.B & Mr.C are the partner in the Partnership firm. Tax Audit is applicable to the firm. Due date of tax audit for A.Y. 2014-15 is extended from 30th September, 2014 to 30th November, 2014. Mr.A died on 10th January, 2014.
In case of wealth tax return for AY 14-15 of Mr. A, what is the due date ?
If wealth tax return is filed on 30th November, 2014 then interest on wealth tax is for 2 months or 4 months ?
Please reply.
In case of wealth tax return for AY 14-15 of Mr. A, what is the due date ?
If wealth tax return is filed on 30th November, 2014 then interest on wealth tax is for 2 months or 4 months ?
Please reply.
26 November 2014
Since Mr. A is no more on the valuation date (31.3.2014), he can't be said as a working partner in the firm which is liable for tax audit, meaning thereby due date of his WT return is 31.7.2014 leading to interest levy of 4 months if filed on 30.11.2014.
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