Wealth tax
This query is : Resolved
12 November 2014
There is one confusion in my mind about the rented house property, If the House consist of 5 Rooms and only 1 room is given on rent for full year, will that whole residential property be exempt from wealth tax liability or only that particular portion is exempt.
Sir, its my humble request you to kindly Reply to the above query ASAP
Sir, its my humble request you to kindly Reply to the above query ASAP
12 November 2014
you can take one house exemption u./s 5(iv)
whether it is let out or self occupied.
whether it is let out or self occupied.
12 November 2014
What is rented is one room of the house property. So what is exempt is the proportionate value of one room.
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