Inclusion for wealth tax
Querist : Anonymous
A company owns , a land and manresidential units are built on it. It gives these flats to its employees at very nominal rate-say RS 500. The salary of many of the resident employees are more than Rs. 5 lacs. What is the status of these flats for wealth tax purpose?
does not mean "rent free".
So in my view since it is allotted to the employees drawing 500000 or more salary it is an asset U/s 2(ea)(i).
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