Any one please answer me how to calculate wealth tax and is there any form or format for calculating wealth tax - urgent
mustafa
(student)
(134 Points)
Replied 09 February 2010
Net Wealth exceeding Rs. 30,00,000 shall be chargeable @ 1%
Rahul Agarwal
(Chartered Accountant)
(213 Points)
Replied 10 February 2010
Go thru the rules of valuation under wealth tax act and then provide exemption of 30 lacs, and calculate tax at 1%
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