Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 June 2013
question regarding whether wealth tax applies or not
a lady has a house on her name(duly registered property) in a city and her husband (expired) had another house on his name (through power of attorney).Till date the house on husband's name has not been transferred to her wife or any children. is the wealth tax applicable in this situation?cost of both the houses is above 30 lacs.
a lady has a house on her name(duly registered property) in a city and her husband (expired) had another house on his name (through power of attorney).Till date the house on husband's name has not been transferred to her wife or any children. is the wealth tax applicable in this situation?cost of both the houses is above 30 lacs.
06 July 2013
even if legally house is not trf on wife's name still it is taxable wealth under sec 2ea as only 1 house is allowed for exemption.
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