banner_ad

Wealth tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 January 2014 under section 7 of wealth tax i get exemption for assets which i bought frm the money in my NRE account 1 year preceding the date of my return and the exemption is enjoyed for 7 successive years.if the government revokes the exemption in between of 7 years then will my wealth wii be taxable frm retrospective effect or prospective effect??
Profile Image

CA Sumit N. gupta

Profile Image

CA Sumit N. gupta (Expert)
13 January 2014 In my opinion there will be very less probability of withdrawing exemption with retrospective effect. If exemption is given for seven successive year it will applicable to 7 years if otherwise specially withdrawn by provision.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
ARTICLE ASSISTANT, TRAINEE AND PAID ASSISTANT

YOGESH KAPOOR AND ASSOCIATES

New Delhi

B.Com

View Details
Company
29 May 2026
Company Secretary - Part time

Shaswat initial support private limited

Ahmedabad

CS

View Details
Company
07 May 2026
CA Assistant

amit desai and co

Mumbai

CA Final

View Details