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Leasehold property as asset

This query is : Resolved 
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(Querist)
18 July 2013 An assessee has taken a land on lease for 25yrs situated in baroda(gujarat).
wheteher that land forms part of your asset for wealth tax Act purpose?
whether he has to pay wealth tax on it?
Lease period is from 1972 to 1995
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 July 2013 Yes it will be included in assets provided that other condition for being asset u/s 2(e)
is satisfied.
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