Valuation of Car for Wealth Tax Purpose
This query is : Resolved
07 September 2009
Can you please advise how to work out value of cars for Wealth Tax compution?
CA. B.SRINIVASULU
(Expert)
07 September 2009
Method 1 adopt the insurance value.
Method 2 get a valuation certificate from the valuer.
Method 3 Your Book value is the value that can be adopted for wealth tax puprose.
Method 2 get a valuation certificate from the valuer.
Method 3 Your Book value is the value that can be adopted for wealth tax puprose.
CA CHINTAN AJMERA
(Expert)
07 September 2009
I think method 1 is not right. Just take book value and if u r not provided depreciation then take certificate from valuer.
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