Hiiiiiiii......
Can somebody tell me whether the business assets of a proprietary concern should be taken and valued along with the valuation of assets of the proprietor while filing the wealth tax return of the proprietor???????????
Suraj S (Audit Executive) (335 Points)
09 July 2011Hiiiiiiii......
Can somebody tell me whether the business assets of a proprietary concern should be taken and valued along with the valuation of assets of the proprietor while filing the wealth tax return of the proprietor???????????
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 09 July 2011
YES , since status of proprietor of is not different from individual identity as per wealth tax act and is not a separate person so you need to give details of bussiness assets as well as only return will be filed under the wealth tax act .
Suraj S
(Audit Executive)
(335 Points)
Replied 09 July 2011
But how shud i value these assets???????
CAclubindia
