How to Upload Form BB (Wealth Tax Returns)- FAQs

Q.1 What is Form BB used for?

Ans. Form BB is used for filing Wealth Tax Returns which can be done online. Individuals, HUFs and Companies whose net wealth exceeds a specified taxable limit (as per the Wealth Tax Act for that particular AY) must file Form BB. Note that no wealth tax is levied from AY 2016-17 onwards.

Q.2 How do I know I have to file return for net wealth?

Ans.  You would need to file Net Wealth Tax Return in case a notice is issued by your AO u/s 17 of the Act. You can check the e-Filing portal Pending Actions> e-Proceedings for notices to file return for net wealth.

Q.3 I am an individual taxpayer. Can my ERI upload Form BB on my behalf?

Ans. No. You need to upload the XML using your own e-Filing account, as the service to file returns against the notice / order is not available through ERI login.

Q.4 What if I do not have a DSC? 

Ans. In such a case, you need to obtain a DSC token online from any Certifying Authority licensed to issue digital signatures in India (e.g., eMudhra, NSDL), and then register the DSC with e-Filing.

Q.5 From where can I download the emsigner utility?

Ans. Once you have uploaded your return XML and are on the Verify your Identitypage, select Click here to download emsigner utility. 

Q.6 Can I revise the filed Wealth Tax Return after submission?

Ans. No, you cannot revise your Wealth Tax Return once submitted, as it is submitted in response to a notice u/s 17(1) for AY 2014-15 and AY 2015-16 only, and the time limit for filing the original / belated return for these AYs has expired.

Q.7 Is it mandatory to use only DSC for verifying Form BB / Return of net wealth?

Ans. Yes, Form BB / Return of net wealth can only be verified using DSC. For that, you have to download and use emsigner utility. There is no other verification method for filing Wealth Tax Returns on the e-Filing portal.

How to Upload Form BB (Wealth Tax Returns) User Manual

1. Overview

This service is available for individual taxpayers, HUFs, and companies. It enables you to upload Form BB (Wealth Tax Returns) in respect of AY 2014-15 and 2015-16, on the e-Filing portal.

2. Prerequisites for availing this service

• Registered user on the e-Filing portal with valid user ID and password
• Notice received from the Income Tax Department to upload Wealth Tax Return (Form BB)
• Offline utility to generate XML for upload on the e-Filing portal
• Registered DSC that is active and not expired

3. Step-by-Step Guide

3.1 Upload Form BB to the e-Filing Portal

Step 1: Log in to the e-Filing portal using your valid user ID and password.

Step 2: Click Pending Actions > e-Proceedings.

Step 3: On the e-Proceeding page, click View Notices for the relevant proceeding.

Step 4: On the View Notices for e-Proceedings page, you will see notices related to the proceeding you selected. Click Submit Response. 

Step 5: Click Yes.

Step 6: The Form BB offline utility (from the Downloads > Other Forms Preparation Software on the e-Filing portal) should be used to generate the XML return file for upload.

Step 7: On the Upload Form BB page, you will see details such as your PAN, AY, Notice Number, and Date of Notice. Upload the XML of your return by clicking Attach File.

Note: There is no specified limit to the XML file size.

Step 8: On successful validation of your XML, click Proceed to Verification to e-Verify using Digital Signature Certificate (DSC).

Note:

• If the validation fails, you will see an error message. In that case, you need to correct the error in your return, and re-attach the return XML.
• Refer to the How to e-Verify user manual to learn more.

On successful verification, a success message will be displayed along with a Transaction ID. Please keep a note of the Transaction ID for future reference. You will also receive a confirmation on you email ID registered on the e-Filing portal.

If you click Download Return & Acknowledgement, you will be able to download the Wealth Tax Return (XML) you submitted and the acknowledgement that it was successfully filed. Form BB will be displayed in your list of filed forms along with its status under the e-File menu > Income Tax Forms > View Filed Forms.