Wealth Tax Return Service

We are engaged in offering excellent quality Wealth Tax Return Service to our valuable clients. The filing of income tax/wealth-tax return is a legal obligation of every person whose total income and wealth tax during the previous year exceeds the maximum amount which is not chargeable to income tax or wealth tax under the provisions of Wealth Tax Act 1957, as the case may be.

WHO: Who shall liable to file wealth tax return?
Every Individual, Hindu Undivided Family and Company whose net wealth exceeds the maximum amount which is not chargeable to wealth tax in any previous year ending of 31st March is liable to file the wealth tax return. The maximum limit of net wealth not chargeable to tax under the provisions of the Wealth tax Act, 1957 is INR 30 Lakhs.

NO RETURN IS REQUIREDTO FILED WHEN WEALTH TAX PAYABLE IS NIL.
What is Net Wealth?
Net wealth is the aggregate value, computed under the provisions of the W.T. Act, 1957, of all assets (including deemed assets), belonging to the assessee on the valuation date, MINUS the aggregate value of all debts owed by the assessee on the valuation date which have been taken in relation to the assets attracting wealth tax.

Rate of Wealth Tax:-
It is charged @ 1% of the amount by which the net wealth exceeds Rs. 30 Lakhs. The return should be furnished in the prescribed form (i.e. Form No. BA).