Wealth Tax
This query is : Resolved
11 May 2009
Assessee is having followings assets, what will be taxable.
1. Residential House in morethan 500Sq. Meter area.
2. Site less than 500 Sq. meter in urban area.
1. Residential House in morethan 500Sq. Meter area.
2. Site less than 500 Sq. meter in urban area.
12 May 2009
One among the two,at the assessee's option, is taxable. The other one is exempted u/s 5(vi) of The Wealth tax act,1957.
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