Wealth tax act pdf icai

Section 54f of the incometax act, 1961 capital gains exemption of. 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. The wealth tax act, 1957 while covering the direct tax laws, students should familiarise themselves with considerations relevant to tax management. Icai the institute of chartered accountants of india. But this deals only with income tax related cases and does not cover cases under wealth tax, stt, ctt, equalisation levy, etc. Under section 3 of the said act, icai is established as a body corporate with perpetual succession and a common seal. The main function of the committee is to examine the indirect taxes laws, rules, regulations, circulars, notifications etc. Institute for austrian and international tax law, wuwu vienna university of economics. Taxpayers are, therefore, not required to file a wealth tax return from assessment year 201617 onwards. Gna 22 issued 2006 guidance note on accounting for credit available in respect of minimum alternative tax under the income tax act, 1961 the following is the text of the guidance note on accounting for credit available. The institute of chartered accountants of india icai is the national professional accounting. It is separate act and not part of income tax act, 1961.

Institute of chartered accountants of india wikipedia. Guidance note on accounting for credit available in. Icai the institute of chartered accountants of india set up by an act of parliament. Filing of gstr1, cgst rules and the central goods and services tax act. Wealth tax no longer leviable from assessment year 201617. 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. In this part you can gain knowledge on various provisions of wealth tax act, 1957.