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REGISTERED No. D. 221

The Gazette of India

EXTRAORDINARY

PART II—Section 3—Sub-section (ii)

PUBLISHED BY AUTHORITY

No. 87] NEW DELHI, TUESDAY, MARCH 10,1970/PHALGUNA 19, 1891

Separate paging is given to this Part in order that it may be filed

as a separate compilation.

CENTRAL BOARD OF DIRECT TAXES

NOTIFICATION

WEALTH-TAX

New Delhi, the 10th March 1970

S.O. 1026.—In exercise of the powers conferred by section 46 of the Wealth-tax Act, 1957 (27 of 1957), the Central Board of Direct Taxes hereby makes the following rules further to amend the Wealth-tax Rules, 1957, namely:—

1. (1) These rules may be called the Wealth-tax (Amendment) Rules, 1970.

(2) They shall come into force on the 1st day of April, 1970.

2. In the Wealth-tax Rules, 1957, for Form A, the following Form shall be substituted namely:—

W.T.S. I

"FORM A

FORM OF RETURN OF NET WEALTH UNDER SUB-SECTION (1) OR SUB-SECTION (2) OF SECTION 14 OF THE WEALTH-TAX ACT, 1957. (For Individuals and Hindu Undivided Families only) Wealth tax Assessment year 19 19

Name Address: Office

Residence Status (Individual or H.U.F.) Whether citizen of India, Not a citizen of India Whether resident in India/resident but not ordinarily resident in India/non-resident in India

(325)

STATEMENT OF ASSETS AND DEBTS AS ON THE VALUATION DATE

P^RT I

Assets Located in India

Other asset*

Assets of business or profession Value Rs.

Value Rs.

I

2

3

SECTION A—IMMOVABLE PROPERTY:

(i) Agricultural lands—As per Annexurc I/Annexuro II

(2) Immovableproperty other than agricultural lands—As per

Annexure III/Annexurc IV

TOTAL OF SECTION A

SECTION B—MOVABLE PROPERTY—As per Annexure V/

Annexure VI

SECTION C—-ALL ASSETS—Total of Sections A and B

Deduct—Total value of debts in India owed by the assessce—As

per Annexurc VI I/Annexure VIII . . ..

Balance—Wealth in India

PART II

Assets Located outside India

NOTE.—This part is not applicable to, and need not be filled in by, assessees who are not citizens of India or who arc not resident in India or who arc resident but not ordinarily resident in India.

Other Assets

Assets of business or profession Value Rs.

Value R".

I

2

3

SECTION D—IMMOVABLE PROPERTY—As per Annexure

IX/AnnexuieX

SECTION E—MOVABLE PROPERTY—As per Annexure XI/

Annexure XII

SECTION F—ALL ASSETS—Total of Sections D and E .

Deduct—Total value of debts outside India owed by the assessee—

As per Annexure XIII/Annexure XIV .

Balance—Wealth outside India

PART III

Not relating to business

Relating to business

Rs.

R&.

2

I

3

SECTION G—NET WEALTH:

Wealth in India on which tax is payable—As per Section C of Part I above Wealth outside India on which tax is payable—As per Section F of Part II above

Value of Assets, as per Annexure XV, which is to be included

in the net wealth of tho ass-ssce under section 4(1)

Value of assets, as per Annexure XVI, on which tax is not pay-

able but which Is to be included in the net wealth under section 5(2)

TOTAL

N ET WEALTH—Total of columns 2 and 3

|

I

PART IV

(tSTJTS.—TtieflUin? in ofthisPmis optional. In this Part may be shown any assets which arc not in;lui:d in Parts I, II and III or the Annjxurcs referred to therein, and which the asscssee claims to be not taxable for any reason.)

Reason why exemption is claimed S.No.

Description of assets

2

I

3

1.

2.

3- 4- 5-

PART V

Particulars about return of Income

NOTE: In addition to ttupmiciilars furnished under Parts I to IV regarding the assets, the assessec shall furnish in this part particulars about his return of income.

Yes/No

(1) Wti;th;r thi a.nM.izt has furnished the return of income under tht In;jmi-tax Act, 1961 (43 of 1961J for the same assessment year ? If yes, on what date

<2) The total income declared in that return . (3) The designation of the Income-tax 0 fficcr to whom the return ofincome was furhished . . . .. (4) Gancral Index Register number of the income-tax case, if available . . . . . . ..

Verification

h

, son/daughter/wife of Shri ,

(Name in block letters)

solemnly declare that to the best of my knowledge and belief, the information given in this Return, and the Annexures and Statements accompanying It, is correct and complete, that the amount of net wealth and other particulars shewn are truly tsated and relate to the valuation date relevant to the assessment year ccmnier.cirg en ihe ist day of April, 19

I further solemnly declare that I/the family/ had no other asset belcrgir.g t©> , either in my/its/ •" name or in the Mine of any me/the family/ other person, which is required to be taken into consideration in computing my/the family's/....

'" net wealth on the said valuation date.

I further declare that I am making this Return in my capacity as

and that I am competent to make thiB Return and verify of it.

Date

Signature

Place

IMPORTANT: Before signing the verification, the signatory should satisfy himself that ihe Return is correct and complete in every respect. Any person mekirg e falte slattmcd in the Return shall be liable to prosecution under section 36 of the Wealth tax Act, 1957 and on conviction be punishable with rigorous imprisonment which shall not ordinarily be ICBS than six months and may extend to two years.

ANNEXURE I

{Set Section A of Part I of this Return)

Statement of agricultural lands located in India and held as assets of a busincsst or profession carried on by the assessee

Area in acres

Description and si- tuation

Identification No. or number of plots under settlement rdcords

Annual land revenue, if any

Estimated capital value on valuation date

••Where the agri- cultural land is si- tuate in an area falling in Category A, B, C or D, the Category of such area

Rs.

Rs.

*

2

6 r

3

4

5

1,

2.

3.

4-

5-

Total value

R"

Less:Amountexempt undersection5(i)(iva)(totheextentnotavailed

of against the value of agricultural lands in Annexure II) . Rs

Net value taken to Section A (column 2) of Part I of this Return . Rs

ANNEXURE II

(See Section A of Part I of this Return)

Statement of agricultural lands located in India, other than those included in Annexre I

••Whsre the agri-

Description an I si- tuation

Area in acres

Estimated capital value on valuation Id;ntificition No. or number of plots under settlement records

Annual land revenue, if any,

date

cultural land is si- tuate in an area fall- ing in Category A, B, C or D, the Category of such area

R".

•

Rs.

6

2

I

3

5

4

I.

2.

3.

4-

5-

Total value

Rs

Less: Amount exempt under section 5(i)(iva) . . .. R<*. .

•Net value taken to Section A (column 3) of Part I of this Return , Rs

NOTES: t i. Please see note below Annexure V.

•2. The description and situation of property should be such as to enable the property and its boundaries to be clearly identified. Plot No. in the settlement recor ds and the name of village/tehsil in which the land is located should Invariably be mentioned.

*3- Each item of agricultural land shuuld b; listed separately, one below the othei,

••4. Category of area has to be indicated as under:

Category A: All cities and towns including contiguous municipalities

and cantonments with population over , , , 16 lakhs.

Category B: Do

8 lakhs but not over

16 lakhs

Category C:"l Do

4 lakhs but not over

8 lakhs.

Category D: Do

1 lakh but not over

4 laths.

Where the land is situttc in an area having a population no t exceeding 1 lakh, this column need not be filled in.

ANNEXUKE III

(See Section A of Part I of this Return.)

Statement of Immovable property (other than agricultural lands) located in India and held as assets of a business \ or profession carried on bythcassessec

Description ard Idcrtifjcatif r No.

Annual value

situation*

of prepcrty

**Wheie the properly is siluatc in ar aiea fallii p in Categf jyA,P,C orD.the Categoiy cf tuch area

Estimated capital value On valuation date

Rs.

Rs.

i

2

3

4

5

I.

2.

3- 4- 5.

Total value taken to Section A (Column 2) of Part I of this Return Rs.

ANNEXURB IV

(See Section A of Part I of this Return)

Statement of Immovable property (other than agricultural lards) located in India, other than those included in Annexure III.

Estimated

Annual value

Identification No, of property

Description and situation*

**Wherc the property is situate in an area falling in Category AtB.C or D, the Category of such area

capital value on valuation date

Rs.

Re.

i

2

3

5

4

i.

2.

3- 4- 5-

Total value Rs. L*ss : Amount exempt under sec. j(i)(iv) Rs.

Net value taken to Section A (column 3) of Part I of this Return Ra.

NOTE : f i. Please sec note below Annexure V.

*2. The description apd situation of property should fce 6ueh as to erablc the property

and its boundaries to be clearly identified.

•3. bach item of immovable property should be listed separately, one below the other. •4 If immovable property consists of any right in lard ci huJlc'.i I V fe ratuit oftheright and the extent thereof should be clearly stated. • *5. Category of area has to be indicated as under:—

Category A: All cities and towne including contiguous munic-

palitics and cantonments with population- over.

16 lakhs.

Do. 8 lakhs b\rt not over 16 lakhs. Do. 4 lakhs but not over 8 lakhs. Do. 1 lakh but not over 4 lakha.

Wherethclandissituateinanareahjivingapopulationnotexcecdingilakh, this coLmr* need

not be filled in.

ANNEXUHE V

(See Section B of Part I of this Return)

Statement of Movable Property located in India and held as assets of a business.

Value.

Description of the assets

Rs.

2

i

I. Plant and machinery 2. Furniture and fittings 3. Patent rights, copyrights, etc 4. Vehicles 5. Stores, spare parts, tools and instruments . 6. Stock in trade. . .. 7. Sundry tebtors. - 8. Loans ana advances owing to the assessec . 9. Cash in hand and at Bank

10. All other assets, except those on which wealth-tax is not pavable

(Give details):—

Total taken to Section B (column 2) of Pait I of this Return.

NOTE : A copy of the balance-sheet or trial balar.ee as on the valuation date or the date of the closing of accounts immediately preccdirg the valuation date and a copy of the audi- tors' report, if any, must be enclosed.

ANNEXUKE VI

(See Section B of Part I of this Return)

Statement of Movable Property (non-busincse assets) located in India.

Value Description of the assets

RB.

2

1

I. (a)" Stocks, bonds, Securities and Funds (Including Treasury Bills)

of :—

(i) Central Government . . . . .. (ii) State Government . . . . .. (Hi) Local authorities.

(b) Shares, debentures or bonds of companies :—

Description of the assets

Value

R".

i

2

Brought forward 2, (a) Moneys lent out by way of loans or advances and Interest

accrued due thereon upto the valuation date:—

(b) An otheramountsduetotheassessecwhichremalnunpaid:—

(c) Amounts covered by insurance policies which have become due

and payable but not paid:—

(d) Uncashed dividends, Interest, etc

(e) Moneys in hand or in banks

3. Value of the share or otherinterest as a partner In a partnership firm

orm?mbcrin an association of persons (Give details):—

4. Annuity rights (other than pension orother annuity rights inrespecf

of past employment as a salaried employee or annuities which arenot commutable).

. ..

5, Tools aid initrumctits, etc. to enable the assesses to carry on his

profession orvo;ation (Mention profession or vocation.)

Is

it. 20,000

Less Exemption [Sec. 5(i)(X)]

P I

6. (a) Gold ornaments :—

Description Weight

(b) Gold in any fonn other than gold ornaments :-

Description Weight

(c) Jtwellery other than gold ornaments :—

Doicription Weight

7. Other assets not included in the above items (.Give details):—

Total value taken toSection B (column 3) of Part I of this Rstum.

• S BC 3 ( f i )] T HE G A Z E T TE OF I N D IA E X T R A O R D I N A RY

3 33

ANNEXUM VII

(See Section C of Part I of this Return)

Statement of debts looted in India owed by the assessee relating to a business* or profession ^carried on by him

Description of debts

Value Rs.

2 1

1. Secured Loam a. Unsecured Loan* 3. Trade Creditors 4. Other items (Give details) •—.

Total business debts taken to Section C (Column 2) of Part I of this Return

ANNEXURB VIII

(See S ection C of Part I of this Return)

Statement of debts located in India owed by the assessee other than those included in Annexure

Description of debts

Value Rs.

1

2

Total non-business debt;, taken to Scotion C (Column 3) of Part I of this Return.

MOTH—D:':>tsViicH hiv;b:::i incjrre] fir acquiring aisetswWch are exempted from wealth tax, or for utilisation on such assets, or debts which have been secured for repayment on such assets, should not be included in AnnexureVII orVIII. Debts which arc -i-inly in the nature of c ^itinfjent liabilities should not be included in these Statements.

ANNEXURE IX

(S"" Section D of part XI of this Return)

Statement of immovable property located out side India and held as assests of business*

"DMiriptioi of th; p.-oicrty

Annual value

Place where it is situated

Estimated capital value as on valuation date

Rs.

Rs.

2

I

3

4

I 2

3 4

Totalvaluetakerito Section D (Column2)of PartII of this Return.

•Nora—Please see note below Annerure V.

ANNEXURE X

(See Section D of Part II of this Return)

Statement of immovable property located outside India other than that inclvdcd i n ABE(SUT"=

Place where it Annual value

Estimated capital Description of the property

is situated

value us on

Rs.

valuation date

Rs.

i

2

3

4

I.

2.

3-

4-

Total value taken to Section D (Column 3) of Part II of this Return.

ANNEXURE XI

(See Section E of Part II of this Return)

Statement of Movable Property Located outside India and held as Assets of a Business*

Value.

Description of assets.

Rs.

1

2

1. Plant and Machinery

2. Furniture and fittings-

3. Patent rights, copyrights, etc

4. Vehicles

5. Stores, spare parts, tools and instruments. . . ..

6. Stock in trade

7. Sundry debtors

8. Loans and advances owing to the assessee . . ."

9. Cash in hand and at Bank.

10. All other assets, except those on which wealth tax is not payable

(Give details) ;—

Total taken to Section E (Column 2) of Part II of this Return.

*NOTE—Please see note below Annexure. V.

ANNEXUKE XII

(See Section E of Part II of this Return)

Statement"-" movable property (ncn- business assets) located outside India.

Description of assets

Value Rs.

1

1.(a) Stocks, bonds, securities :—

(i) Of any Government or local authority in India inscribed for

payment outside India:—

(ii) Of foreign Governments :

(b) Shares, debentures or bonds of companies :—

2,(a) Moneys lent out by way of loans or advances and interest accrued

due thereon upto the valuation date:—

(b) Any other amounts due to the asscssee which remain unpaid

(c) AmountcoveredbyinBurancepolicieswhich have become due

and payable but not paid: —

(d) Uncashcd dividends, interest, etc.:—

(e) Moneys in hand or in banks :—

3. Value ofthe share or other interest as a partner in a partnership firm

or member in an association of persons (Give details):—

4. (a) Gold ornaments :—

Description Weight

(b) Gold in any form other than gold ornaments :— Description Weight

(c) Jewellery other than gold ornaments :— Description Weight

5. Other assets not included in the above items (Give details):—

Total taken to Section E (Cok rr r, 3) of Pert II of this Return.

ANNEXURE XIII

(See Section F of Part II of this Return)

Statement of debts outside India owed by the assessee relating to a business* carried on by him.

Description of debts.

Value. RB.

I

2

I. Secured Loans. 2. Unsecured Loans . 3. Trade Creditors. . .. 4. Other items (Give details):

Total business debts taken to Section F (Column 2) of Part II of

this Return.

*NOTE. Please see note below Annexure V.

ANNEXURE XIV

(S"e Section F of Part II of this Return)

Statement of debts located outbids Iniia owed by the assessee other than those included in Annexure XIII.

Description of debt.

Value.

Rs.

1

2

Total n)J-bu"inc"s d:bts taken to Section F (Column 3) of Part II

of this Return.

NOTE.—Debts which hive been incurred for acquiring assets which are exempted froom wealth tax, or for utilisation on such aa'ts or debts which have been secured for repayment on such assests should not be included in Annexure XIII or XIV.

Debts which are purely in the nature of contingent liabilities should not be included in Annexure XIII or XIV.

ANNEXURE XV

(See Section G of Part III of this Return)

Statement of assets transferred by the assessee to or for the benefit of the spouse or minor child, etc.

Description of assets

Value

Date of transfer

Name of transferee

Rs.

1

2

3

4

Whi ch are to be included in the net wet^th of the assessee.

(Sec. 4(1)].

Which are not to be included in the rust wealth pf the assessee for as3es"mentyearcommencingafter3i-3-64 .' , ' \

{Proviso to Sec. 4(1)]

Total valuetaken to Section G of Part III of this Return.

ANNEXUBE X VI

(See Section G of Part I II of this Return)

Statement of assets on which wealth-tax is not payable but which are to be included in net •wealth under Section 5(2).

Value

N o. and date of Cen- tral Government N o-

Description of assets

tification granting exemption from tax

1

r

3

Deposits with Central Government . . . .. Deposits with State Governments Securities of Central Government Securities of State Governments Securities of local authorities . . . . ..

Total taken to Section G of Part I II of this Return .

' [ N o. a/F. N o. 3(II)-69/TPL]i

R. R. K H O S L A, Secy.

Stc. J(U)] tHte &AifrlTfc Of INDIA KCtkAOttblNARV J41

PRINTED BY THE GENERAL MANAOER, GOVERNMENT OF INDIA PRESS, MINTO ROAD, NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATIONS. DELHI, 1 9 70