Wealth tax

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20 January 2015 Wealth tax chargeability for 2015-16

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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21 January 2015 In case the taxable Net wealth of the Individual or HUF is above Rs 30 Lacs, such assessee will be required to file Wealth Tax Return in the New Form BB for Asst year 2014-15 and subsequent year. He may file such Return of Wealth Tax physically (or electronically with digital signature at his option).

However, in case, provisions of Section 44AB of the Income Tax Act 1961 is also applicable to such assessee he can not furnish paper return and it will be mandatory for him to file the Wealth Tax Return with digital signature.

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