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Clarification on Interest under Section 17B of Wealth Tax Act, 1957 for non -furnishing of return

Income Tax - 05/2015 - Dated:- 9-4-2015 - CIRCULAR NO. 5/2015 DATED 9-4-2015 Interest under section 17B of the Wealth-tax Act (hereinafter the Act) is charged in case of default in furnishing of return of net wealth by an assessee. The interest is ch .....

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est is being charged on the amount of self-assessment tax paid by the assessee even before the due date of filing of return of net wealth. 2. It has been held by the Hon'ble Supreme Court in the case of CIT v. Prannoy Roy 309 ITR 231 (2009) that .....

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