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Whether wealth tax return is compulsory for individual ?

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 August 2014 Dear Expert,

my business turnover is more than 1crore in FY 13-14..

I am running proprietry firm.

Whether Wealth tax return is compulsory for me even if my wealth is less than exemption limit??
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Rupesh Jain

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Rupesh Jain (Expert)
16 August 2014 if your wealth more than 30 lacs then you have to submit the wealth tax return.
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CA UMESH DULAL

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CA UMESH DULAL (Expert)
16 August 2014 Not compulsory if your net wealth is less than exemption limit.
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