Wealth tax
This query is : Resolved
Jatin Ashar
(Querist)
08 February 2013
Should amount in bank account included while calculation of wealth tax?
if yes than under which section?
if yes than under which section?
Ajay Mishra
(Expert)
09 February 2013
Hi
For Wealth Tax purpose:
Cash in hand;
a. In case of an individual and HUF cash in hand in excess of Rs. 50,000/- shall be included in assets.
b. In cash of any other person cash in hand not recorded in the books of account shall be included in assets.
Hi
For Wealth Tax purpose:
Cash in hand;
a. In case of an individual and HUF cash in hand in excess of Rs. 50,000/- shall be included in assets.
b. In cash of any other person cash in hand not recorded in the books of account shall be included in assets.
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