https://www.taxtmi.com/acts?id=47117 Amendment requires that no application under section 22C shall be made unless the assessee has furnished the return of wealth required under the Act, and sets three rules for computing wealth-tax where disclosed wealth relates to one previous year: (i) if no return was furnished, tax on disclosed wealth as if it were net wealth; (ii) if a return was furnished, tax on the aggregate of returned net wealth and disclosed wealth; (iii) if reassessment proceedings are pending and no return was filed during those proceedings, tax on the aggregate of earlier assessed net wealth and disclosed wealth, with specified reductions to determine the additional tax in each case. en-us Tue, 07 Jan 2025 13:15:07 +0530 Tue, 07 Jan 2025 13:15:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=47117 Amendment requires that no application under section 22C shall be made unless the assessee has furnished the return of wealth required under the Act, and sets three rules for computing wealth-tax where disclosed wealth relates to one previous year: (i) if no return was furnished, tax on disclosed wealth as if it were net wealth; (ii) if a return was furnished, tax on the aggregate of returned net wealth and disclosed wealth; (iii) if reassessment proceedings are pending and no return was filed during those proceedings, tax on the aggregate of earlier assessed net wealth and disclosed wealth, with specified reductions to determine the additional tax in each case. Act-Rules F. Acts / Amendment Acts Tue, 07 Jan 2025 13:15:07 +0530 https://www.taxtmi.com/acts?id=47117