Amendment Relating WealthTax


Amendment Relating WealthTax

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Amendment relating to settlement commission under wealth tax

Amendment relating to settlement commission under wealth tax

Like amendments in income tax, similar amendments have been made in section 22A of the Wealth Tax Act. Thus, the application to the Settlement Commission under wealth tax can also be made in the following cases:

(1) Proceeding for assessment or reassessment under section 17 These proceeding shall be deemed to have commenced from the date on which a notice under section 17 is issued;

(2) a proceeding for making fresh assessment in pursuance of an order under section 23A or section 24 or section 25, setting aside or cancelling an assessment.

These proceedings shall be deemed to have commenced from the date on which the order under section 23A or section 24 or section 25, setting aside or cancelling an assessment was passed.

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