Submission of wealth tax return
This query is : Resolved
Debasish Goswami
(Querist)
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/-
CA Yugal Purohit
(Expert)
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
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Missed uploading GST Invoice
- Movement of goods by packers and movers - type of sale - Reg.
- Closer of business and itc of capital goods
- Appointment of Auditor By Form ADT-1
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- TDS Return Statement Status
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
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
