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of <h1>New Guidelines for Wealth Tax Compliance: Scrutiny on Income Tax Cases to Include Wealth Tax Checks, Notices to be Issued.</h1> The Board has observed stagnant Wealth Tax collection and a decline in the number of assessees over the past seven years, prompting new scrutiny guidelines. All Income Tax cases currently under scrutiny should also be examined for Wealth Tax compliance. Notices under specific sections of the Wealth Tax Act should be issued where applicable. Additionally, if the Chief Commissioner of Income Tax (CCIT) or Director General of Income Tax (DGIT) deems a case requires scrutiny, they may instruct the Assessing Officer to proceed. These measures aim to address non-filing and underreporting of taxable wealth.
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