Wealth tax act pdf icai

Guidance note on accounting for credit available in. The main function of the committee is to examine the indirect taxes laws, rules, regulations, circulars, notifications etc. The institute of chartered accountants of india icai is the national professional accounting. Siddhesh rao research associate, global tax policy centre. Icai is established under the chartered accountants act, 1949 act no. Institute for austrian and international tax law, wuwu vienna university of economics. These may include tax considerations with regard to specific management decisions, foreign collaboration agreements, international taxation, amalgamations, tax incentives, personnel compensation plans, accounting and other precautions to be observed to maximise tax relief. The wealth tax act, 1957 while covering the direct tax laws, students should familiarise themselves with considerations relevant to tax management. Incometax is levied on the income of the taxpayer, whereas wealth tax is levied on the wealth of the taxpayer.

Institute of chartered accountants of india wikipedia. It is separate act and not part of income tax act, 1961. On lines of sabka vishwas scheme in indirect tax, which settled 1,89,000 cases and realised rs. Download gst indiagoods and services tax in india all useful pdf and presentations. But this deals only with income tax related cases and does not cover cases under wealth tax, stt, ctt, equalisation levy, etc.

Icai the institute of chartered accountants of india set up by an act of parliament. In this part you can gain knowledge on various provisions of wealth tax act, 1957. Wealth tax no longer leviable from assessment year 201617. The icai president also said that needless to say that there is no fee to access. Taxpayers are, therefore, not required to file a wealth tax return from assessment year 201617 onwards. No part of the contents available in any icai publication may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without prior permission, in writing, from the institute.