TaxTMI 
TaxTMI 
TaxTMI 
Demand in respect of wealth-tax on agricultural land.
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.... 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 printing of these revised forms would take some time. In the m....
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....e 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 agricultural land. etc. b) The demand/collection in respect of taxab....
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....ate 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 the Demand Register." Here against the number in the Demand Register, it shou....
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....nless 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 necessary, in the past to collect chargewise statistics relating to the levy of addit....