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Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2014 Is delivery van used in business of assesse includible as an Asset under Wealth Tax?

30 July 2014 no as it falls in exception case and not includible since its used for business

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2014 Can you please provide the case law or provision where such exception is given




30 July 2014 refer sec 2(ea) and under motor vehicles it mentions exception that vehicle used for business is exempted.

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Querist : Anonymous

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30 July 2014 It says motor car used as stock in trade and not "used in business"

30 July 2014 then what is the business of assessee?

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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2014 Business is manufacturing

30 July 2014 then it will be included in the definition of asset.




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Querist : Anonymous

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Querist : Anonymous (Querist)
30 July 2014 Ok.Thank you sir for your reply

30 July 2014 you are welcome friend..........................



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