Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 August 2012
The assessee, an individual, owns a property which is being used as a business premise by a firm in which the assessee is a partner. This property is in addition to the exempted house property for wealth tax purposes. Will this house property will fall in the ambit of wealth tax ?
Amol S Joglekar
(Expert)
09 August 2012
One house property... exemption is granted under wealth tax. The subsequent property is exigible to wealth tax.
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