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Wealth Tax

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26 October 2010 What has been recommended in the Direct Tax Code (which I think is going to be implemented from 1-4-2012) as far as Wealth Tax is concerned . Is it true that from Year 2012-13 onwards ,Income Tax Dept. will start levying Wealth Tax of 1 % on the Assessee's Wealth . If true , then how exactly will the Wealth of the Assessee be Assessed ?
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CA.Amit Revankar

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CA.Amit Revankar (Expert)
26 October 2010 u r question needs more clarity...
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