Wealth tax

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SUBHASH JAIN (Querist)
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15 August 2011 AS PER SECTION OF 3 OF INCOME TAX ACT WHICH ASSETS IS EXEMPTED FROM WEALTH TAX. AND WHAT IS THE LIMIT FOR WEALTH TAX AND WHOSE ARE COVER UNDER THIS ACT. AND IS IT PAYABLE EVERY YEAR. PLEASE ASSIST ME.

SUBHASH JAIN

SUBHASH JAIN (Querist)
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15 August 2011 please reply

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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15 August 2011 Wealth tax is payable by Individual, HUF and companies.

The assets are specified in the wealth tax act

SUBHASH JAIN

SUBHASH JAIN (Querist)
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15 August 2011 Where i can search please provide link

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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16 August 2011 You may refer the recent links for Basic aspects of the Wealth Tax Act-

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https://www.caclubindia.com/forum/assets-for-wealth-tax-162095.asp

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https://www.caclubindia.com/forum/details.asp?mod_id=162053&offset=2

SUBHASH JAIN

SUBHASH JAIN (Querist)
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17 August 2011 NET ASSETS OF RS. 3000000/- IS EXEMPTED IN WEALTH TAX IN THAT CASE ONE HOUSE PROPERTY IS EXCLUDED OR INCLUDED IN THE NET WEALTH.

SUBHASH JAIN

SUBHASH JAIN (Querist)
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17 August 2011 PARAS JI PLEASE REPLY