1. CBDT has issued order U/s 119 dt. 10-06-2015 extending the due
date of filing income tax returns from 31st July to 31st August 2015.
2. CBDT has issued circular No. 11/2015 dt. 11-06-2015. Earlier urban agricultural land which was shown as agricultural land on revenue record was liable to wealth tax due to anomaly before changes made in Finance Act 2013.
Finance Act 2013 made it clear by amending definition U/s 2(ea) sub clause b of explanation 1 stating that agricultural land as per government revenue record and used for agricultural purposes will not be liable to wealth tax.
2. CBDT has issued circular No. 11/2015 dt. 11-06-2015. Earlier urban agricultural land which was shown as agricultural land on revenue record was liable to wealth tax due to anomaly before changes made in Finance Act 2013.
Finance Act 2013 made it clear by amending definition U/s 2(ea) sub clause b of explanation 1 stating that agricultural land as per government revenue record and used for agricultural purposes will not be liable to wealth tax.
Now by the circular all the wealth tax assessees who has paid wealth
tax due to this anomaly are allowed to file application for revision U/s
25 of WT act before Pr. CIT/CIT to claim the refund alongwith interest
on such wrongly paid wealth tax.
Such applications shall be disposed off by CITs within one year from the end of financial year in which such application is made.v.
No application shall be entertained after one year from the date of issue of this CBDT circular. .
For details please see the circular...
Such applications shall be disposed off by CITs within one year from the end of financial year in which such application is made.v.
No application shall be entertained after one year from the date of issue of this CBDT circular. .
For details please see the circular...
