Return of wealth

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.... shall be the same date as that applicable to an assessee under the Income-tax Act under the Explanation to sub-section (1) of section 139 of the Income-tax Act. (2) Notwithstanding anything contained in any other provision of this Act, a return of net wealth which shows the net wealth below the maximum amount which is not chargeable to tax shall be deemed never to have been furnished: Provided that this sub-section shall not apply to a return furnished in response to a notice under section 17.] (3) ^3[Omitted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989.]       ----------------------- Notes:- 1. See rule 3 and Form BA. 2. Substituted for sub-sections (1) and (2) by the Direct Ta....

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.... opinion that any person is assessable under this Act, whether in respect of his net wealth or the net wealth of any other person, then, notwithstanding anything contained in sub-section (1), he may serve a notice upon such person requiring him to furnish within such period, not being less than thirty days, as may be specified in the notice, a return in the prescribed form and verified in the prescribed manner (setting forth along with such other particulars as may be required by the notice), the net wealth of such person as on the valuation date mentioned in the notice." 3. Before omission, sub-section (3) stood as under : "(3) The Assessing Officer may, if he is satisfied that it is necessary so to do, extend the date for the delive....

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....immovable property (item 28.1e) 18 Aggregate value of movable property (item 28.2d) 19. Includible net wealth of other persons (item 28.3e) 20. Aggregate value of interest in assets held in a Firm/AOP as partner/member (item 28.4f) 115 21. Net wealth (As rounded off to nearest multiple of hundred rupees) (17+18+19+20) 116 In words Statement of tax 118 119 135 22. Tax on net wealth 23. Add: interest on late filing of return 24. Total tax and interest payable (22+23) 25. Less prepaid tax and interest (Attach Challans) Date Name of Bank and Branch Branch Code Amount (Rs.) I II II Total 137 26. Balance tax and interest payable (24-25) Amount of refund due, if any 149 27. ....

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....Description of Asset Value Debt owed in relation to the Asset Reasons for the claim 30. List of documents/statements attached Description In Figures In words Verification* I (Name in full and in Block Letters) son/daughter of solemnly declare that, to the best of my knowledge and belief, the information given in this return and the annexures and statements accompanying it is correct and complete, and that the net wealth and other particulars shown therein are truly stated and in accordance with the provisions of the Wealth-tax Act. 1957. in respect of net wealth as on the valuation date chargeable to wealth-tax for the assessment year . I further declare that I am making this return in my capacity as (designation in ....