Wealth tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

14 October 2013 Sir ,i have heard that if we keep cash morethan 50 thousand then it attract wealth tax. My question is if total asset value is less than 30 lacs then also wealth tax is appliable. Pl explain elaborately

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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14 October 2013 If u keep cash more then 50,000 it will be included in cal of wealth tax but if overall net assets are less then 30 lakhs then no tax is to be paid.

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