Wealth tax eligibility
This query is : Open
13 January 2015
who is liable for wealth tax e filing ?
a person who has liable for compalsory audit but his net wealth is bellow wealth tax limit, then wealth tax return is compalsory or not?
is there any notification for this from CBDT or income tax department ?
a person who has liable for compalsory audit but his net wealth is bellow wealth tax limit, then wealth tax return is compalsory or not?
is there any notification for this from CBDT or income tax department ?
13 January 2015
The person whose wealth as on the valuation date, i.e. 31.03.2015 for A.Y. 2015-16, if exceeds the limit i.e. 30 lakh. He is liable to wealth tax compliances.
It cover all the person,
not only who require audit under IT act
It cover all the person,
not only who require audit under IT act
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13 January 2015
if hi wealth is over rs. 30 lacs then he have to file wealth tax retrun and pay the tax. otherwise not required.
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13 January 2015
it is ok, but what happen when person is liable for tax audit and net wealth is less then 30 lack, he has to e-file wealth tax return or not?
15 January 2015
No requirement of filling return.
Only required in case of crossing of limits.
Only required in case of crossing of limits.
17 January 2015
is there any notification or circular from CBDT or income tax department
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