Effect of higher returns for the assessment year 1986-87 in respect of wealth-tax assessments-Clarification regarding

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..... personal income-tax and corporate tax and has also liberalised the provisions of the Wealth-tax Act considerably. Taxpayers liable to wealth-tax should avail of this opportunity to come forward and file returns of wealth showing their true net wealth irrespective of what they might have done earlier. They need not have any apprehension that they will be subject to penalty or prosecution so long a .....

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..... ty from penalty and prosecution will be available only to such persons who come forward and show their true wealth and pay tax thereon by March, 1986. (Sd.) M.S. Narayanan, Chairman, Central Board of Direct Taxes. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMIT .....

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