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Confusion

Mansoori M. Zubair M.salim (M.Com / IPCC cum ATC / CA Final) (208 Points)

05 July 2014

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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subhash kumar jha (PROFESSION) (445 Points)
Replied 05 July 2014

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