Wealth Tax Returns Application Form

Wealth tax: Wealth tax is a tax which is levied on the total value of an individual/personal Assets

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Individual/personal Assets includes Cash, Bank Deposits, Fixed Deposits, owner-occupied house, Pension plans, Insurance Policies, unincorporated business, Financial securities, Investments in Real estate, Personal trusts, Corporate stock etc,.

Wealth tax is a tax which is levied on the flow of Assets

  • Wealth tax is also called as Capital tax
  • Wealth tax is also called as Equity tax
  • Wealth tax is also called as Net worth tax

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There are 2 different Wealth tax return forms:

  • Form No BA
  • Form No BB

Form No BA:

Form No BA is applicable for the Individuals/Hindu Undivided Families or Companies to furnish the Net wealth returns

According to the Wealth-tax rule 3(1) (B) 1957 Form No BA is used for filing the return of Net Wealth

To download the Form No BA Application Form click here 🙁 http://www.incometaxindia.gov.in/forms/wealth-tax%20rules,%201957/103120000000008086.pdf)

 

Form No BB:

Form No BB Application Form is used as assessment year form to file the Net wealth return

According to the Wealth-tax rule 3(1) (B) 1957 Form No BB is used for filing the return of Net Wealth

 

To download the Form No BB Application Form click here 🙁

http://www.incometaxindia.gov.in/forms/wealth-tax%20rules,%201957/wtr57formbb_return.pdf)

 

To download the Form No BB Application Form Instructions click here 🙁

http://www.incometaxindia.gov.in/Supporting%20Files/WTR_FormBB_Ins/Instructions-Wealth-Tax-18-07-2014.pdf)