Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 July 2014
I HAVE 4 HOUSE AS ON 31-03-14
TWO HOUSE HAVE LET OUT
WHICH ONE HAVE FOR FULL YEAR LET OUT
AND ANOTHER FOR 6 MONTHS LET OUT,
ONE HOUSE FOR RESIDENTIAL PURPOSE
ONE HOUSE IS NOT USED FOR ANY PURPOSE
WHICH HOUSE INCLUDE AND WHICH HOUSE EXCLUDE IN WEALTH TAX CALCULATION ?
KINDLY HELP ME ,
THANKS IN ADVANCE.
TWO HOUSE HAVE LET OUT
WHICH ONE HAVE FOR FULL YEAR LET OUT
AND ANOTHER FOR 6 MONTHS LET OUT,
ONE HOUSE FOR RESIDENTIAL PURPOSE
ONE HOUSE IS NOT USED FOR ANY PURPOSE
WHICH HOUSE INCLUDE AND WHICH HOUSE EXCLUDE IN WEALTH TAX CALCULATION ?
KINDLY HELP ME ,
THANKS IN ADVANCE.
Deepti Asawa
(Expert)
08 July 2014
Ist House = exempt ( rented more than 300 days )
IInd House = Include in wealth calculation
IIIrd House = Include in wealth calculation
IVth House = Include in wealth calculation
As per Section 5(vi)of Wealth Tax Act - Individual or HUF can take exemption for 1 residential house
so that you can take exemption for 1 house (any 1 from IInd, IIIrd , IVth house )
IInd House = Include in wealth calculation
IIIrd House = Include in wealth calculation
IVth House = Include in wealth calculation
As per Section 5(vi)of Wealth Tax Act - Individual or HUF can take exemption for 1 residential house
so that you can take exemption for 1 house (any 1 from IInd, IIIrd , IVth house )
Message likes :
1 times
Rupesh Jain
(Expert)
08 July 2014
you can take one house for his resident and another one for rented of 300 days then exempt.
another two you have to include in wealth tax.
another two you have to include in wealth tax.
11 July 2014
follow what deepti have recommended.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Gst credit note by supplier
- Reward for festival
- 18% Rent a cab
- Movement of goods by packers and movers - type of sale - Reg.
- Missed uploading GST Invoice
- Closer of business and itc of capital goods
- ARCA LOGIN
- Gratuity paid to legal heir above 20 lakh is taxable or not
- Appointment of Auditor By Form ADT-1
- RCM and same line
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
