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Wealth tax

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(Querist)
17 November 2013 if as per definition of asset for wealth tax, building does not include residential property let out for more than 300 days in a year, then do we still calculate annual rent for the purpose of valuation of under rules 3,4 & 5. if so why..
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
18 November 2013 Excluded assets are not considered even for valuation as it wil not serve any purpose for wealth tax.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
18 November 2013 Agree with expert,
It will not be considered in computing wealth tax...
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CA BHARATH KUMAR

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CA BHARATH KUMAR (Expert)
18 November 2013 agree with Tushar
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