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Coverage of building in wealth tax for the company

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(Querist)
23 April 2014 XYZ Ltd. is having a building which is used for its business and profession I want to know that whether that building will be considered in Wealth or not?
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Rupesh Jain

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Rupesh Jain (Expert)
23 April 2014 it is not covered as assets under wealth act see section
2(ea)(i)(3)
but take as WDV value for wealth tax.
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TANK JIGNESH SANJAYBHAI

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TANK JIGNESH SANJAYBHAI (Querist)
24 April 2014 Thank you sir,

but if it is not at all an asset then why we should determine value of that wealth according to your answer?
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