Query regarding wealth tax.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

25 July 2014 dear sir,
why Assets held by a physically or mentally handicapped minor child as specified in section 80U of the Income-tax Act, will not be clubbed with the net wealth of the parent?please explain this provision with example.

thankyou

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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25 July 2014 logic is wealth tax is charged with intention that people having more welath needs to be charged but for minor handicaaped its not free wealth available looking at them morally

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CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

25 July 2014 logic is wealth tax is charged with intention that people having more welath needs to be charged but for minor handicaaped its not free wealth available looking at them morally

Message likes : 1 times

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