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Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Stamp paper is not included with this agreement and is for illustration purposes only. If e -stamp is applicable in your city you can order it during checkout.
Guidelines for Drafting FORM M-2 - Warrant of Authorization under Section 37A of the Wealth-Tax Act, 1957:
Usage:
FORM M-2 is utilized for obtaining a warrant of authorization under Sub-Section (2) of Section 37A of the Wealth-Tax Act, 1957. It is applicable when authorities require authorization to enter and inspect premises for the purpose of wealth-tax assessment.
Key Guidelines:
Accurate Identification:
Clearly identify the taxpayer by providing accurate details such as name, address, and PAN.
Include details of the assessing officer or authorized officer.
Specific Purpose:
Clearly state the specific purpose for which the authorization is sought, emphasizing its relevance to wealth-tax assessment.
Detailed Justification:
Provide a comprehensive and detailed justification for the necessity of the authorized entry and inspection.
Include reasons that demonstrate the relevance to the wealth-tax assessment.
Duration and Scope:
Clearly define the duration for which the authorization is sought.
Specify the scope of the authorization, detailing the areas or premises to be inspected.
Provisions of Law:
Refer to the relevant provisions of the Wealth-Tax Act, 1957, empowering the authorities to seek such authorization.
Common Mistakes to Avoid:
Incomplete Information:
Ensure that all required fields in FORM M-2 are accurately filled. Incomplete information may lead to delays or rejections.
Ambiguity in Purpose:
Clearly articulate the purpose for which the authorization is sought. Ambiguous statements may lead to misunderstandings.
Unjustified Authorization:
Justify the need for the authorized entry and inspection thoroughly. Lack of justification may result in the warrant being deemed unnecessary.
Failure to Reference Applicable Law:
Clearly reference the relevant sections of the Wealth-Tax Act, 1957, empowering the authorities to seek such authorization.
Failure to Define Scope:
Clearly define the scope of the authorization, specifying the areas or premises to be inspected. A vague scope may lead to challenges during execution.
Adherence to these guidelines ensures the proper utilization of FORM M-2, enabling authorities to conduct necessary inspections for wealth-tax assessments in a legally sound and justified manner.