wealth tax on motor car

This query is : Resolved 

30 April 2008 While calculating wealth tax on motor car by insured value method whether 20% should be reduced?

01 May 2008 when you are calculating motor car in wealth tax closing balance sheet value should be taken not 20% less value
u/s 2(e)(a)

01 May 2008 yes i agree with mr hemant dewani


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