Wealth Tax Act

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 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, Due Date Reminder and Location Map

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Due Date Reminder

Jan Feb Mar Apr May June
July Aug Sep Oct Nov Dec
All
28 Jul 24 Return for June by persons with Unique Identification Number (UIN) like embassies etc to get refund under GST for goods and services purchased by them.
30 Jul 24 Issue of TCS certificate for April-June by All Collectors.
30 Jul 24 Deposit of TDS u/s 194-IA on payment made for purchase of property in June.
30 Jul 24 Deposit of TDS u/s 194-IB @ 5% on total payment of Rent more than 50,000 pm by individual or HUF (not liable to tax audit) during FY 24-25, where lease has terminated in June. (Else TDS is to be deposited on annual basis by 30 April of next year.)
30 Jul 24 Deposit of TDS on certain payments made by individual/HUF u/s 194M for June.
30 Jul 24 Deposit of TDS on Virtual Digital Assets u/s 194S for June.
31 Jul 24 Statement of tax deposited to be furnished by an exchange in relation to transfer of virtual digital asset u/s 194S for April-June.
31 Jul 24 Quarterly TDS Statements for April-June.
31 Jul 24 Statement of foreign income in FY 23-24 & tax deducted or paid on such income to claim foreign tax credit. Applicable where due date of ITR is 31 July.
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