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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- GST ON DAMAGED GOODS
- Specified Profession
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
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
