Wealth tax
This query is : Resolved
03 March 2014
What is a interpretation of Sec 2(ea)(i)(3). A house used for own business or profession.? Can you explian with example.
Thank you.
03 March 2014
For eg. Mr. A owns a house property. He is a doctor by profession. He opens his clinic in the house.
It will be said that Mr. A is using the house for own business or profession. Accordingly such a house is NOT an asset for wealth tax purpose.
It will be said that Mr. A is using the house for own business or profession. Accordingly such a house is NOT an asset for wealth tax purpose.
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