Wealth-tax return requirement: returns below the exemption threshold are treated as never furnished unless filed after a notice. Persons whose net wealth or net wealth of another person for which they are assessable exceeds the exemption ceiling on the valuation date must furnish a prescribed, verified return by the due date aligned with income tax filing dates; returns showing net wealth below the exemption ceiling are deemed never furnished except when filed in response to a statutory notice.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth-tax return requirement: returns below the exemption threshold are treated as never furnished unless filed after a notice.
Persons whose net wealth or net wealth of another person for which they are assessable exceeds the exemption ceiling on the valuation date must furnish a prescribed, verified return by the due date aligned with income tax filing dates; returns showing net wealth below the exemption ceiling are deemed never furnished except when filed in response to a statutory notice.
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