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Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 November 2013 Sir,

I have two residential house.

1 is used for self residence and the 2nd one is let out.

as per the Wealth tax provisions. Under section 5(iv) one house is exempted.

and Under 2(ea) (i) (4) it is given that house let out is also exempted.


so, for me both the residential house are qualified for exemption under Wealth Tax Act ???
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
22 November 2013 Yes allowed but it must be LOP for at least 300 days in the fin year.
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