Wealth TAX
This query is : Resolved
20 August 2009
Does Assets include residential house under wealth tax act & how the value of property computed
20 August 2009
Sec 2(e)(a) deals with the meaning of assets tht includes residential house with certain exceptions like if the house is given for rent for more than specific date
then one house is exempt
house given by co to employee whose salary is more than 500000
so yes residential house included in assets as per wealth tax act the valuation to be done under the valuation rules
then one house is exempt
house given by co to employee whose salary is more than 500000
so yes residential house included in assets as per wealth tax act the valuation to be done under the valuation rules
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