Wealth tax
This query is : Resolved
SABREZ ALAM
(Querist)
05 December 2014
gold include the assessable value under wealth tax or not
CS Mitesh Mehta
(Expert)
16 December 2014
gold constitutes an assets as per Section 2(ea) and is includible in net wealth.
However if it is used as stock in trade, the same shall be excluded from the assets chargeable to wealth tax
However if it is used as stock in trade, the same shall be excluded from the assets chargeable to wealth tax
Rupesh Jain
(Expert)
18 December 2014
GOLD INCLUDE IN NEW WEALTH OTHER THAN BUSINESS STOCK.
18 December 2014
agreee with mitesh mehta's reply
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