17 October 2013
An urban land has been purchased in the name of the company for residential purpose( to be given to the directors). area- 350 sq mtrs. year of purchase 2010
What will be the effect on wealth tax return of the company in accordance with Wealth Tax Act.
17 October 2013
if directors are in whole time and earning upto 10 lakhs salary then this residential property shall not be included in definition of assets under wealth tax act 1957.
CAclubindia
