WEALTH TAX.
This query is : Resolved
07 August 2010
CAN THE DEDUCTION OF THE DEBT OWED IN RELATION TO A PARTICULAR ASSET CAN BE MORE THAN THE VALUATION OF THAT ASSET,IF THERE ARE ALSO OTHER ASSETS AS PER SEC
2(ea)against which the deduction of debts owed is less in aggregate.
2(ea)against which the deduction of debts owed is less in aggregate.
07 August 2010
I do not think negative wealth can be added and also the debt of a asset cannot exceed its cost in any case. So not allowed.
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