Wealth Tax
This query is : Resolved
25 November 2009
How will the following be assessed under wealth tax act ?
1. Equity shares in a private company(eg.Rs.800000).
2. Share Application money paid to an indian company (eg. Rs.200000).
3. Interest free Loan given to a private company (Rs.500000).
4.Motor vehicles (other than cars) used in the grocery business including motor cycles (eg. Rs.600000).
1. Equity shares in a private company(eg.Rs.800000).
2. Share Application money paid to an indian company (eg. Rs.200000).
3. Interest free Loan given to a private company (Rs.500000).
4.Motor vehicles (other than cars) used in the grocery business including motor cycles (eg. Rs.600000).
26 November 2009
All these item are not assets u/s 2(ea) of wealth tax act
26 November 2009
Agree
26 November 2009
Agree
26 November 2009
agree
26 November 2009
I'm still doubtful about motor vehicles because I have read in some books that 'motor car includes all motor vehicles excluding heavy vehicles'.
26 November 2009
26 November 2009
MOTOR CAR EXEMPT BECOUSE ITS USED FOR THE PURPOSE OF BUSINESS.
27 November 2009
Could you please mention the section that specifies the exemption of 'motor car used in business'
03 August 2025
MOTOR CAR EXEMPT BECOUSE ITS USED FOR THE PURPOSE OF
BUSINESS.
27 November 2009
Could you please mention the section that specifies the exemption of
'motor car used in business'
BUSINESS.
27 November 2009
Could you please mention the section that specifies the exemption of
'motor car used in business'
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
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- Unregistered suppliers utility
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- EXPORT COMMERCIAL INVOICE HSN CODE
- Cash balance limit and property purchases limit
- Can we choose not to report losses in ITR3 if they cannot be carried forward?
- LIC maturity claim whether taxable
- Bank details not Visible on Traces Portal
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
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
