1. What is Form BB used for?
Form BB is used for filing Wealth Tax Returns which can be done online. Individuals, HUFs and Companies whose net wealth exceeds a specified taxable limit (as per the Wealth Tax Act for that particular AY) must file Form BB. Note that no wealth tax is levied from AY 2016-17 onwards.
2. How do I know I have to file return for net wealth?
You would need to file Net Wealth Tax Return in case a notice is issued by your AO u/s 17 of the Act. You can check the e-Filing portal Pending Actions > e-Proceedings for notices to file return for net wealth.
3. I am an individual taxpayer. Can my ERI upload Form BB on my behalf?
No. You need to upload the XML using your own e-Filing account, as the service to file returns against the notice / order is not available through ERI login.
4. What if I do not have a DSC?
In such a case, you need to obtain a DSC token online from any Certifying Authority licensed to issue digital signatures in India (e.g., eMudhra, NSDL), and then register the DSC with e-Filing.
5. From where can I download the emsigner utility?
Once you have uploaded your return XML and are on the Verify your Identity page, select Click here to download emsigner utility.
6. Can I revise the filed Wealth Tax Return after submission?
No, you cannot revise your Wealth Tax Return once submitted, as it is submitted in response to a notice u/s 17(1) for AY 2014-15 and AY 2015-16 only, and the time limit for filing the original / belated return for these AYs has expired.
7. Is it mandatory to use only DSC for verifying Form BB / Return of net wealth?
Yes, Form BB / Return of net wealth can only be verified using DSC. For that, you have to download and use emsigner utility. There is no other verification method for filing Wealth Tax Returns on the e-Filing portal.