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WEALTH TAX

12 September 2007

I WANT TO KNOW FOR WEALTH TAX. I RECEIED A NOTICE OF WELTH TAX FROM HARYAN AND FILLING INCOME TAX RETURN IN DELHI WHAT TO DO. HOW TO DEAL THE MATTER

NARENDRA FCA

9811269419

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Late CA Sampat Jain (Chartered Accountant) (4772 Points)
Replied 13 September 2007

Wealth-tax authorities and their jurisdiction. 8. The income-tax authorities specified in section 116 of the Income-tax Act shall be the wealth-tax authorities for the purposes of this Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority under this Act in respect of any individual, Hindu undivided family or company, and for this purpose his jurisdiction under this Act shall be the same as he has under the Income-tax Act by virtue of orders or directions issued under section 120 of that Act (including orders or directions assigning concurrent jurisdiction) or under any other provision of that Act. Explanation.—For the purposes of this section, the wealth-tax authority having jurisdiction in relation to a person who is not an assessee within the meaning of the Income-tax Act shall be the wealth-tax authority having jurisdiction in respect of the area in which that person resides.] THEREFOR REMEDY IS TO CHALLENGE THE JURIDICTION .........FILE RETURN UNDER PROTEST CHLLENGING THE JURISDICTION...IF THE NOTICE IS FOR FILING RETURN........OR TAKE STAY OF THE NOTICE FROM HIGH COURT AS NOTICE WITHOUT JURISDICTION......