Wealth tax
This query is : Resolved
23 March 2015
Dear Sir,
in 26 as, major head 0032 (Wealth Tax) has been shown in self assessment tax paid. while making computation of the assesee I have not shown it as deduction from total tax payable as we do it for advance tax.
While doing prefill of ITR - 4, wealth tax paid is coming in Schedule IT.
Is it (wealth tax paid) a deduction to be claimed from total tax payable?
Plz reply
in 26 as, major head 0032 (Wealth Tax) has been shown in self assessment tax paid. while making computation of the assesee I have not shown it as deduction from total tax payable as we do it for advance tax.
While doing prefill of ITR - 4, wealth tax paid is coming in Schedule IT.
Is it (wealth tax paid) a deduction to be claimed from total tax payable?
Plz reply
23 March 2015
no, as both wealth tax and income tax are to be paid and considered seperately only.
23 March 2015
Thank You Sir, But while doing prefill in ITR- In schedule It
0032 Wealth Tax 48500
0021 Advance Tax 50000
Is showing, n making a huge refund In TTI column Of ITR, so shall i Delete - 0032 Wealth Tax 48500, from schedule IT
Plz guide
0032 Wealth Tax 48500
0021 Advance Tax 50000
Is showing, n making a huge refund In TTI column Of ITR, so shall i Delete - 0032 Wealth Tax 48500, from schedule IT
Plz guide
23 March 2015
yes do not select or even if its prefilled then remove the selection of wealth tax 0032 as that is not taken into cal while cal tds and adv tax for income tax.
23 March 2015
Thank You so much Sir
23 March 2015
you are welcome rajani.
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
- Sale of goods from my GST proprietorship firm to my GST HUF proprietorship firm with karta me
- Cash deposited to salary account from gold loan account
- Itc on computer
- Can huf give gift to karta or kartas wife and son
- Assessment Procedure Us 147
- FY 24-25 Invoice Booked in FY 25-26 & ITC Claimed in FY 25-26
- TDS deduction liability ?
- ESI Contribution after implementing COSS
- Who is obliged to pay
- How to file ITR for AY 2024-25
- IGST refund with GST amendment deadline over
- ITR revision intimation recd.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- TDS under section 195.
- Filing GST Returns after death of proprietor
- Registered Required in GST Act
- Switch over to Composition Scheme
- Gstr 9 and itc
- Clarification regarding IMS
Trending Online Classes
-
FR & Direct Tax (Regular Batch Combo) For May 26 & Onwards
CA Bhanwar Borana & CA Aakash Kandoi
CAclubindia
