Rule 10
Remission Of Wealth Tax
10. Remission of wealth tax :
(1) If any house and land used in a dispensary, hermitage, inn, public school, orphanage, benevolent and religions acts, is not rented one but the present property of the person or organization carrying out such acts, and even though any income is earned from such acts or house and land, such income is being used in such acts, the person desiring to get the wealth tax leviable on such house and land remitted has to submit an application, accompanied by
the evidence, to Government of Nepal through the local Zonal Commissioner. If such application is submitted the Zonal Commissioner shall inquire as to whether the matter mentioned therein is true or not and submit the application, accompanied by his opinion and verdict, to the Ministry of Finance of Government of Nepal.
(2) If the house and land used in the said acts (activities) be not personal property of the person or organisation carrying out such acts and such person or organisation has used the house and land on rent, the wealth tax leviable on such house and land shall not be remitted. The person who rents has to pay the tax.
(3) In the case of a house not suitable for dwelling in it because of demolition and deface, the owner of such house has to give a notice thereof to the Wealth Tax Officer each year. If it appears true to the Wealth Tax Officer after holding public inquiry, he/she may remit the wealth tax continuously for a period not exceeding one year. After that
year, report has to be made to the Ministry of Finance of Government of Nepal and action shall be taken as sanctioned.
(1) If any house and land used in a dispensary, hermitage, inn, public school, orphanage, benevolent and religions acts, is not rented one but the present property of the person or organization carrying out such acts, and even though any income is earned from such acts or house and land, such income is being used in such acts, the person desiring to get the wealth tax leviable on such house and land remitted has to submit an application, accompanied by
the evidence, to Government of Nepal through the local Zonal Commissioner. If such application is submitted the Zonal Commissioner shall inquire as to whether the matter mentioned therein is true or not and submit the application, accompanied by his opinion and verdict, to the Ministry of Finance of Government of Nepal.
(2) If the house and land used in the said acts (activities) be not personal property of the person or organisation carrying out such acts and such person or organisation has used the house and land on rent, the wealth tax leviable on such house and land shall not be remitted. The person who rents has to pay the tax.
(3) In the case of a house not suitable for dwelling in it because of demolition and deface, the owner of such house has to give a notice thereof to the Wealth Tax Officer each year. If it appears true to the Wealth Tax Officer after holding public inquiry, he/she may remit the wealth tax continuously for a period not exceeding one year. After that
year, report has to be made to the Ministry of Finance of Government of Nepal and action shall be taken as sanctioned.