https://www.taxtmi.com/acts?id=50219 A new Chapter VA creates the Wealth tax Settlement Commission to settle pending wealth tax proceedings: assessees may apply with prescribed fees; the Commission can call records, direct further enquiry, hear parties, and pass conclusive settlement orders specifying tax, penalty, interest, payment terms and a voidance clause for fraud. The Commission has powers of a Wealth tax authority, may grant conditional immunity from prosecution and penalty for full disclosure and cooperation, may re open completed proceedings within limits, and controls inspection of reports while settlement sums are recoverable under the Act. en-us Wed, 05 Mar 2025 16:34:05 +0530 Wed, 05 Mar 2025 16:34:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50219 A new Chapter VA creates the Wealth tax Settlement Commission to settle pending wealth tax proceedings: assessees may apply with prescribed fees; the Commission can call records, direct further enquiry, hear parties, and pass conclusive settlement orders specifying tax, penalty, interest, payment terms and a voidance clause for fraud. The Commission has powers of a Wealth tax authority, may grant conditional immunity from prosecution and penalty for full disclosure and cooperation, may re open completed proceedings within limits, and controls inspection of reports while settlement sums are recoverable under the Act. Act-Rules F. Acts / Amendment Acts Wed, 05 Mar 2025 16:34:05 +0530 https://www.taxtmi.com/acts?id=50219