Dear all
What is time limit for filing of Weath tax Return . I am going to file my Wealth Tax Return for F.Y. 2009 -2010, Wheter is it possible for me ? If Yes what is the Penalty & Interest if any ? Please give me the answers with reference with Sections Only.
Thanks
Regards
As per Explanation to Sec 14(1) of Wealth Tax Act,
Due date for filing the wealth tax return shall be the same date as that applicable to an assessee under the Income-tax Act under the Explanation to sub-section (1) of section 139 of the Income-tax Act.
For eg- In case of Companies 30th September
for individual/ HUF not having tax audit - 31st July etc
due date is same as income tax return.
late filing interest will be charged at the rate 1% per month or part thereof.
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