24 January 2015
In case the taxable Net wealth of the Individual 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.
As long as your taxable net wealth is more than Rs 30 Lacs you will have to pay 1% tax on wealth in excess of Rs 30 Lacs and file return in form BB.
Further, 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.