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Other General points to be remembered on Wealth Tax Return

Other General points to be remembered on Wealth Tax Return

There should be no corrections or overwriting and it should be properly signed and verified by the person who is authorized to do so under the provisions of I.T. Act.

The permanent Account Number (PAN) given to the taxpayer and under the Income-tax Act, 1961 and Ward/Circle/Range are to be quoted here.

All parts and Columns must be filled in. If any part or column does not apply, please mention NA (Not Applicable) and do not put any other mark or symbol.

In case space provided under any item of the Return Form is found insufficient, then give computation in respect of such item on separate sheet(s) using the columns indicated for that purpose under the said item in the return Form and attach that to the return. The sum totals of such computation done should be indicated in the columns provided under the relevant item in the Return Form.

Similarly, any other information asked for in the, Form, which cannot be completely furnished on account of paucity of space, maybe furnished on a separate sheet.

Statement of Taxes

Wealth-tax payable on the net wealth arrived at is to be indicated. The tax should be calculated according to the rates specified in Part I of Schedule I. Indicate interest chargeable for late filing of return. The net tax/interest payable or refund due, as the case may be, is to be indicated.

List of Documents / Statements Attached

Please give complete particulars of documents attached to the return of Wealth.

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Other General points to be remembered on Wealth Tax Return

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