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Cash RS.50000 + on 31st mar 10

This query is : Resolved 
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(Querist)
02 February 2010 if a salaried persons is having more than Rs.50000/-cash in hand out of his savings on 31st-Mar-10. than is he liable for wealth tax or the clause is for business people only.
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CA PRIKSHIT GUPTA

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CA PRIKSHIT GUPTA (Expert)
02 February 2010 Wealth tax is applicable for all the individual. there is no difference of salaried and business person. if his net wealth is exceeding Rs. 30 lakhs (including Cash in Hand over 50000/-) then he will be lible for wealth tax
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
02 February 2010 Agree. CA Prikshit is right.
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Murtaza I Bhagat

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Murtaza I Bhagat (Expert)
03 February 2010 agree
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