IMPLICATION OF WEALTH TAX ON INDUSTRIAL LAND
This query is : Resolved
PARSURAM BAISAKH
(Querist)
19 February 2008
A public sector company has acquired a huge land from the state govt., where the company has set up its plat, staff quarter,recreation club & park,guest house and others. Keeping to the various provision laid down in the income tax act,any body can explain the applicability of wealth tax act for calculation of wealth tax on such industrial land those have already used for staff quarter , guest house and those have remain vacent for future development.
CA. Kirti S. Ganatra
(Expert)
20 February 2008
Industrial/ Commercial Property is exempt in Wealth Tax
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