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Taxability of assets in case of wealth tax

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(Querist)
20 September 2011 Dear All,
Want to know whether Land & Buildings held by a manufacturing co, which is used for manufacturing activities is taxable under Wealth Tax.

Buildings also includes Guest House, Manufaturing units etc.


This is a urgent . So please help me out

Thanks in Advance.
Regards
Hitesh
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
20 September 2011 "House" occupied for the purpose of business or profession is not an asset as envisaged in Section 2(ea)

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