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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax Audit u/s 44AB for Transport Business A proprietorship is engaged in transportation business and
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
