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of <h1>CBDT Extends Monetary Limits for Filing and Withdrawing Wealth Tax Appeals to Match Income Tax Standards, Circular 3/2018.</h1> The circular issued by the Central Board of Direct Taxes extends the monetary limits for filing and withdrawing Wealth Tax appeals by the Department to align with those set for Income Tax appeals as per Circular 3 of 2018. This adjustment aims to manage litigation effectively, applying the same monetary thresholds to Wealth Tax cases, effective from the date of this circular. The tax effect for Wealth Tax appeals is defined as the difference between the assessed tax on Net Wealth and the tax chargeable if Net Wealth was reduced, excluding interest unless its chargeability is disputed. The circular's provisions do not apply to writ matters.
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