Tax on the wealth of partner
This query is : Resolved
23 July 2013
Whether Furniture and Fixture(A.C, Computers, Electronic Equipment, Fridge, Two Wheeler) of the Partnership Firm is Taxable in the Hands of the Partners under the wealth Tax Or Is It not Taxable As it is not covered under the assets defined u/s 2ea of the Wealth Tax.
23 July 2013
Any assets not covered under sec 2(ea)of wealth tax act is not to be included in individual partners wealth tax return.
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