TaxTMI 
TaxTMI 
Demand in respect of wealth-tax on agricultural land.
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....n respect of wealth-tax on agricultural land, etc. and the collections made against such demand. Accordingly, such demand and collection would have to be separately entered in the Notice of Demand, Challan, D & CR and the DCR. As the existing forms do not provide for the separate accounting of demand and collection in respect of Wealth-tax on agricultural land etc. they are being revised. The prin....
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....ecessary to make two separate entries in respect of an assessee whose net wealth consists of both agricultural land, etc and other taxable assets. It is, therefore, desired that the D & CR should have two parts i.e. Part-I and Part II. In Part I, the following two types of cases should be entered:- a) The entire demand/collection where net wealth consists only of taxable assets other than agric....
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....ted only as one assessment. iii) While it will not be necessary to bifurcate the DCR into two Parts, as would be done in the case of D & CR, it would nevertheless be necessary to indicate in the D & CR whether the collection pertains to the entries in part I or part II of the D & CR. For this purpose the only change required would be in respect of column No.2 of the DCR which mentions "No. in t....
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....the amount of additional wealth-tax should be excluded from the total demand unless the agricultural land; included in the net wealth, itself is located in an urban area and its value has been included for the purposes of calculating additional wealth-tax. 3. The existing columns in the D & CR and the DCR do not provide for separate entries in respect of additional wealth-tax. It has been neces....