- Wednesday, May 6, 2009, 7:45
- Income Tax
The forms includes Return Of Net Wealth in Form A, Form Of Return Of Net Wealth For Individual/Hindu Undivided Families/Companies in Form BA, Form Of Return Of Net Wealth Under Sub-Section (1) Or Sub-Section (2) Of Section 14 Of The Wealth-Tax Act, 1957 [For companies * only] in Form A, Statement of valuation of jewellery in Form O-8A and all other forms.
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- Thursday, April 9, 2009, 19:57
- Income Tax
The Finance Act, 2007 carried out a comprehensive amendment to the scheme of settlement of cases. This scheme provides for abatement of proceedings before the Settlement Commission under various circumstances. In order to deal with the various issues that may arise in the event of abatement of proceedings before the Settlement Commission, an amendment has [...]
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- Tuesday, March 3, 2009, 7:48
- Income Tax
Notification No. 16/2009, dated 13-2-2009 In exercise of the powers conferred by section 46 of the Wealth-tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following rules further to amend the Wealth-tax Rules, 1957, namely :— 1. (1) These rules may be called the Wealth-tax (Second Amendment) Rules, 2009.
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- Saturday, February 28, 2009, 15:30
- Income Tax
Motwane Manufacturing Co. Pvt. Ltd., Vs. The Commissioner of Wealth-tax (Mumbai HC) - The Tribunal was right in law in holding that land used for internal roads of the factory and play ground for workers of the factory is taxable as wealth of the company, when the factory building has not been charged for wealth-tax .
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- Wednesday, February 4, 2009, 1:16
- Income Tax
Wealth-tax (First Amendment) Rules, 2009 – Substitution of rule 8C NOTIFICATION NO. 15/2009, DATED 30-1-2009 In exercise of the powers conferred by section 46 of the Wealth-tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following further amendments in the Wealth-tax Act, 1957, namely:— 1. (1) These rules may [...]
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- Monday, December 24, 2007, 9:57
- Income Tax
The definition of the term `Asset' includes any building, whether it is used for residential or commercial purposes or for the purpose of maintaining a guesthouse. WEALTH TAX is a tax on the value of wealth owned by a person, levied under the Wealth Tax Act. The tax is levied @ 1 per cent on the amount of wealth as on 31st March of every year, where such amount exceeds Rs.15,00,000. This is similar to the basic exemption limit of Rs.1,00,000 provided under the Income Tax..
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