Submission of wealth tax return
This query is : Resolved
06 July 2014
Whether submission of wealth tax return is compulsory or not for AY 14-15 for Individual assessee, assessed u/s 44AB of IT act 1961, whose net wealth is below Rs. 30,00,000/-
06 July 2014
No it is not mandatoy, as per wealth tax if assesse is taxable than only he must submit retrn but now it gone onln and nothing else. By making rule to submit retrn online ,it never means that u have to file retrn even it is not taxable.
06 July 2014
In my view if Net Wealth is below exemption limit then Wealth Tax Return is not required to be filed.
In latest amendments nowhere it is mentioned that even if Net Taxable wealth is below exemption limit return has to be filed.
Let other experts also give their view.
In latest amendments nowhere it is mentioned that even if Net Taxable wealth is below exemption limit return has to be filed.
Let other experts also give their view.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Under construction property in ITR
- Building tax payment deduction in rental Income
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- F & O PROFIT REPORTING FOR AY 2026-27
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
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
