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hi
i want to know that whether wealth tax return is mandatory to individaulas / H.U.F Under audit irrespective of profit is less than 30 lakhs.from 2014 - 15.
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Income Tax Department has amended Wealth Tax Rule with Return Form i.e. "Form-BB" for Wealth Tax Return vide notification Dated 23rd June, 2014, which is mandatory to file except Individual and HUF those who are not liable for Tax Audit. Income Tax Department has been made some major changes regarding e-filing of wealth tax return as under.Latest wealth tax return "Form-BB"
So it will be applicabe for p.y 13-14 onwards
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