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wealth tax on motor car

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(Querist)
30 April 2008 While calculating wealth tax on motor car by insured value method whether 20% should be reduced?
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CA Hemant T Dewani

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CA Hemant T Dewani (Expert)
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)
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Sanjeev Kumar Sharma

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Sanjeev Kumar Sharma (Expert)
01 May 2008 yes i agree with mr hemant dewani




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