Regarding cash in hand excess of rs.50,000/-
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 March 2015
A Proprietorship Firm has Cash balance of Rs.125000/- as on 31.03.2013. I want to know whether the Proprietor is liable for Wealth tax, as cash in hand is excess of Rs.50,000/-.
Awaiting your Reply.
Thanks in Advance
Awaiting your Reply.
Thanks in Advance
18 March 2015
https://www.aubsp.com/2011/06/definition-of-assets-under-wealth-tax.html
yes as per section 2(ea) of wealth tax act 1957, prop shall be classified as individual.
yes as per section 2(ea) of wealth tax act 1957, prop shall be classified as individual.
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