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Wealth tax

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Querist : Anonymous

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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 ?
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Amol S Joglekar

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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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