Clarification about wealth tax
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 December 2014
What is wealth tax....
IF the market value of the asset decreases as compared to the last year .. then weather wealth tax paid or not .
and for final preparation of IDT which book is suggestible
IF the market value of the asset decreases as compared to the last year .. then weather wealth tax paid or not .
and for final preparation of IDT which book is suggestible
10 December 2014
1. Wealth tax is a tax levied on assets held by an assessee.
2. For computing wealth tax the value of the assets have to be computed on 31st March of every year.
3. Wealth tax is levied on the value of the asset as on 31st March of the respective year.
4. The fact that the value of an asset has decreased in comparison to the previous year does not mean that wealth tax is not to be levied.
Wealth tax will be calculated on the decreased value.
2. For computing wealth tax the value of the assets have to be computed on 31st March of every year.
3. Wealth tax is levied on the value of the asset as on 31st March of the respective year.
4. The fact that the value of an asset has decreased in comparison to the previous year does not mean that wealth tax is not to be levied.
Wealth tax will be calculated on the decreased value.
Message likes :
1 times
Querist : Anonymous
Querist :
Anonymous
(Querist)
11 December 2014
Thank you sir .. Please explain Sale and lease back as per AS 19 leases and why this method done
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- House Property Reporting in ITR
- TDS Claim year
- Liable to deduct tds and 44ADA
- TDS Challan Code
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- Rent lease agreement
- Merchant Export Accounting
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
