+91- 9819886266 office@cdsandassociates.com

Wealth Tax Act

Enter Section No Enter Section Heading
Section NoSection Heading
123
Page size:
select
 143 items in 3 pages
1Short title, extent and commencement
2Definitions
3Charge of wealth-tax
4Net wealth to include certain assets
5Exemptions in respect of certain assets
6Exclusion of assets and debts outside India
7Value of assets, how to be determined
8Wealth-tax authorities and their jurisdiction
8A[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
8AA[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
8B[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
9Control of wealth-tax authorities
9A[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
10Instructions to subordinate authorities
10A[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
11Jurisdiction of Assessing Officers and power to transfer cases
11A[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
11AA[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
11B[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987,W.E.F. 1-4-1988]
12[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
12AAppointment of Valuation Officers
13[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1988]
13APowers of Director General or Director, Chief Commis­sioner or Commissioner and Joint Commissioner to make enquiries
14Return of wealth
15Return after due date and amendment of return
15AReturn by whom to be signed
15BSelf-assessment
15C[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1987, W.E.F. 1-4-1989]
16Assessment
16AReference to Valuation Officer
17Wealth escaping assessment
17ATime limit for completion of assessment and reassess­ment
17BInterest for defaults in furnishing return of net wealth
18Penalty for failure to furnish returns, to comply with notices and concealment of assets, etc.
18APenalty for failure to answer questions, sign state­ments, furnish information, allow inspection, etc.
18BPower to reduce or waive penalty in certain cases
18BAPower of Commissioner to grant immunity from penalty
18CProcedure when assessee claims identical question of law is pending before High Court or Supreme Court
18D[OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT, 1989, W.E.F. 1-4-1989]
19Tax of deceased person payable by legal representative
19AAssessment in the case of executors
20Assessment after partition of a Hindu undivided family
20AAssessment after partial partition of a Hindu undivided family
21Assessment when assets are held by courts of wards, administrators-general, etc.
21AAssessment in cases of diversion of property, or of income from property, held under trust for public charitable or religious purposes
21AAAssessment when assets are held by certain associ­ations of persons
22Assessment of persons residing outside India
22ADefinitions
22BWealth-tax Settlement Commission
22BAJurisdiction and powers of Settlement Commission

News Section

News

02 Dec 20
5 Lakh+ Business May Lose GST Registration & Many Yet to File Returns
GST: Online Tests Scored after Human Intervention classifiable as an OIDAR Service, IGST applicable, says AAAR
GST: CBIC waives Penalty for non-compliance to QR code provisions if compiled by April 01, 2021
Four months respite from penalty on GST invoices without QR code
30 Nov 20
Punjab drops resistance, chooses option for GST dues
GST is another name for usury, says Stalin
Man arrested for Rs 100 crore fake GST invoice fraud
Top 25,000 GST payers of October yet to file returns in November, tax officers to send reminders
Economic rationale overrides differences within GST Council
29 Nov 20
Over 5.4 lakh businesses risk losing GST registration for defaults
GST return: 25K entities yet to file returns, 5.43 lakh businesses risk losing registration for defaults
Wife Can Raise RTI Request to Know Husband’s Income: CIC
NAA: P&G Fines INR 241CR for Not Giving GST Rate Cut to Consumers
28 Nov 20
GST: CBIC notifies SOP for Verification of Taxpayers granted Deemed Registration
Rationalise GST rate structure to check GST fraud
GST officials catch massive tax fraud of Rs 2,350 crore, fake invoices, ITC claims
27 Nov 20
GST: Patiala House Court grants Anticipatory Bail to top management of Milkfood alleged of wrongful availment of ITC on deposit of 10 Cr
Show Cause Notice ought to be uploaded on revenue’s website: Madhya Pradesh HC quashes GST order not complying mandatory procedure
CBDT to validate UDIN generated from ICAI portal at the time of upload of Tax Audit Reports
26 Nov 20
GST authority finds P&G, Gillette guilty of profiteering
GST invoices fraud: ‘Mastermind’ who created 115 fake firms among 59 arrested
GST: Communication of Show-Cause Notice must be on Revenue’s website and not via Email, says Madhya Pradesh HC
GST: Delhi Govt waives off Late Fee for registered person who failed to furnish the return in FORM GSTR-3B
GST Compensation Cess: Kerala and West Bengal choose Option-1 to meet the shortfall
25 Nov 20
Fake Invoice issue: GST Council Law Panel suggests tougher GST Registration Procedure with live photo, biometrics
Company granting Bonus to Employees or Shareholder entitled to Tax benefits: ITAT
GST Evasion: DGGI Rohtak arrests One more Person in Hisar for issuing Fake Invoices of Input Tax Credit
No Permission of DPIIT Program Benefits for Start-ups by Tax Dept
24 Nov 20
GST dept arrests bizman for Rs 2,285 crore fraud
The problem with tough plans against GST fraud
GST backbone reforms need to remain non-intrusive
GST Quarterly Return filing & Monthly Payment of Taxes (QRMP) Scheme: All You Need to Know
23 Nov 20
Fake invoice issue: GST Council law panel urges Aadhaar-like registration
GST Evasion: DGGI Gurugram arrests 2 for Input Tax Credit fraud of Rs 25 cr
Delhi Govt. notifies Interest to be paid on net GST with effect from Sep 1, 2020
22 Nov 20
GST Council panel for 2-pronged strategy to curb fake invoices
Time Completion is Not Mentioned
Why Income Tax Refund May Delay in Assessment Year 2020-21?
Govt may approach ICAI for action against 3 CAs over GST frauds
21 Nov 20
GST Evasion: DGGI Gurugram arrests 2 for Input Tax Credit fraud of Rs 25 cr
Plea challenging Section 16(4) of the CGST Act for denying ITC if not claimed within due date of Furnishing of Return: Calcutta HC issues notice
Delhi Govt. notifies Interest to be paid on net GST with effect from Sep 1, 2020
Maharashtra AAR: Housing Society To Levy GST on Certain Threshold Limit
Plea challenging Section 16(4) of the CGST Act for denying ITC if not claimed within due date of Furnishing of Return: Calcutta HC issues notice
20 Nov 20
A woman mastermind arrested in the latest drive against GST fraud
Monthly GST filing will not be necessary after e-invoice system is in place: Finance secretary
Kerala High Court restrains Revenue from recovering amount refunded as levy of Service Tax in lieu of Foreign Agency Commission
Gujarat High Court refuses to grant Anticipatory Bail to CGST Inspector alleged of Corruption
GST Evasion: DGGI Nagpur arrests prominent Builder in a case of availment of Fraudulent Input Tax Credit of Rs. 4.86 Cr on Fake Invoices
19 Nov 20
IT Levy on Payment by Distributor for Acquiring Software from Overseas
GST Council Meeting Today, Many important Ddecisions can be taken
GSTN issues Advisory on E-Invoicing
Plea challenging Levy of GST on Hand Sanitizers under the same Tariff Heading as insecticides etc. required to be filed in HC: SC

Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
07 Dec 20 Payment of TDS of November 2020 (For Govt deductors paying through challan)
10 Dec 20 Statement by e-commerce operator with tax (GSTR-8) for the month November 2020
10 Dec 20 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of November 2020
11 Dec 20 Filing of GSTR-1 for the month of Nov, 2020
13 Dec 20 Filing of GSTR-6 for input service distributor for the month of November 2020
15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of October, 2020.
15 Dec 20 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of October, 2020
15 Dec 20 P.F Payment for the month of November 2020
15 Dec 20 ESIC Payments for the month of November 2020
15 Dec 20 furnishing of Form 24G by an office of Government where TDS for m/o Nov 20 has been paid without production of a challan
20 Dec 20 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Nov 2020
20 Dec 20 GST Return for NRI OIDAR service provider for the month of November 2020 (GSTR 5A)
30 Dec 20 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of November 2020
30 Dec 20 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of November 20
07 Jan 21 Payment of TDS of December 2020 (For Govt deductors paying through challan)
10 Jan 21 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of December 2020
10 Jan 21 Statement by e-commerce operator with tax (GSTR-8) for the month December 2020
11 Jan 21 Filing of GSTR-1 for the month of Dec, 2020
13 Jan 21 Filing of GSTR-6 for input service distributor for the month of December 2020
14 Jan 21 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of November, 2020.
15 Jan 21 P.F Payment for the month of December 2020
15 Jan 21 ESIC Payments for the month of december 2020
15 Jan 21 furnishing of Form 24G by an office of Government where TDS for m/o Dec 20 has been paid without production of a challan
15 Jan 21 Submission of Forms No. 15G, 15H, 27C for the quarter ending 31st December 2020
18 Jan 21 Filing of CMP-08 for the quarter Oct-Dec 2020
20 Jan 21 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Dec 2020
20 Jan 21 GST Return for NRI OIDAR service provider for the month of Dec 2020 (GSTR 5A)
30 Jan 21 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of December 2020
30 Jan 21 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of December 20
31 Jan 21 Filing of GSTR-1 for the quarter Oct-Dec,2020
31 Jan 21 Quarterly statement of TDS deposited for the quarter ending December 31, 2020
07 Feb 21 Payment of TDS of January 2021 (For Govt deductors paying through challan)
10 Feb 21 Return of TDS (Tax deducted at source) with payment of tax (GSTR-7) for the month of January 2021
10 Feb 21 Statement by e-commerce operator with tax (GSTR-8) for the month January 2021
11 Feb 21 Filing of GSTR-1 for the month of Jan. 2021
13 Feb 21 Filing of GSTR-6 for input service distributor for the month of Jan. 2021
13 Feb 21 Filing of GSTR-6 for input service distributor for the month of Feb 2021
14 Feb 21 Due date for issue of TDS Certificate for tax deducted under Section 194-IA in the month of December, 2020.
14 Feb 21 Due date for issue of TDS Certificate for tax deducted under Section 194-IB in the month of December, 2020
15 Feb 21 P.F Payment for the month of January 2021
15 Feb 21 ESIC Payments for the month of January 2021
15 Feb 21 furnishing of Form 24G by an office of Government where TDS for m/o Jan 2021 has been paid without production of a challan
15 Feb 21 Quarterly TDS certificate (in respect of tax deducted for payments other than salary) for the quarter ending December 31, 2020
20 Feb 21 Filing of GSTR-5 for Non-resident foreign taxpayer for the month of Jan 2021
20 Feb 21 GST Return for NRI OIDAR service provider for the month of Jan 2021 (GSTR 5A)
28 Feb 21 furnishing of challan-cum-statement in respect of tax deducted u/s 194-IA in month of January 2021
28 Feb 21 Due date for furnishing of challan-cum-statement in respect of tax deducted u/s 194-IB in month of January 21
Readmore...

Blog News

  • 31 Jul 2019 About - C D S & Associates, Chartered Accountants, is a leading accountancy, tax and...
    •

    Enquiry Form

    Please send us your query and we'll be happy to assist you