Wealth tax
This query is : Resolved
Balwinder Singh
(Querist)
15 February 2012
IS THERE DIFFERENCE BETWEEN WEALTH TAX RETURN AND INCOME TAX RETURN
CA CS Pawan Jajoo
(Expert)
15 February 2012
Yes, Both are totally different.
16 February 2012
i) Income tax returns are to be filed in the prescribed forms called ITR-1 to ITR-7 depending mainly on the 'status' of the assessee.
ii) Wealth tax returns are to be filed in the prescribed forms called as Form A /Form B / Form BA for various classes of tax payers.
ii) Wealth tax returns are to be filed in the prescribed forms called as Form A /Form B / Form BA for various classes of tax payers.
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