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Applicability of Wealth Tax For CS Executive and Professional ?

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Applicability of Wealth Tax For CS Executive and Professional. In previous post we have given CS Executive and Professional study material. Today we are providing details about applicability of Wealth Tax for CS Executive and Professional. The Finance Act, 2015 enacted in May, 2015 has abolished the levy of wealth-tax under the Wealth Tax Act, 1957 with effect from assessment year 2017-18. As Wealth Tax Act has been abolished w.e.f. 1st April, 2017. The questions from the same will not be asked in the relevant papers of Executive and Professional level examination from December,2017 session on wards. Read official notification below !!

Applicability of Wealth Tax For CS Executive and Professional ?

We are receiving queries from the students regarding the applicability of Wealth Tax of Tax Laws and Practice (Executive Programme) and Advanced Tax Laws and Practice (Professional Programme).

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In this regard,the following may be noted:

“The Finance Act, 2015 enacted in May, 2015 has abolished the levy of wealth-tax under the Wealth Tax Act, 1957 with effect from assessment year 2016-17. As Wealth Tax Act has been abolished w.e.f. 1st April, 2016. The questions from the same will not be asked in the relevant papers of Executive and Professional level examination from December,2015 session on wards.”

So wealth tax totally removed from CS Executive and Professional syllabus. Wealth tax syllabus not applicable from Dec 2015.

Click Here to see official notification of ICSI about ” Applicability of Wealth Tax For CS Executive and Professional

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