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wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
22 December 2009 SEC 5 (III) OF WT ACT ANY ONE BUILDING IN THE OCCUPATION OF A RULER, BEING A BUILDING WHICH IMMEDIATELY BEFORE THE COMMENCEMENT OF THE CONSTITUTION (TWENTY-SIXTH AMENDMENT) ACT, 1971, WAS HIS OFFICIAL RESIDENCE BY VIRTUE OF A DECLARATION BY THE CENTRAL GOVERNMENT UNDER PARAGRAPH 13 OF THE MERGED STATES (TAXATION CONCESSIONS) ORDER, 1949, OR PARAGRAPH 15 OF THE PART B STATES (TAXATION CONCESSIONS) ORDER, 1

WHEN THE WORD RULER IS USED IT MEANS THE KINGS BEFORE INDEPENDENCE & THE PROPERTY THEY’VE BEFORE INDEPENDENCE
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Manikanta Raju CA,CWA,(CS)

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Manikanta Raju CA,CWA,(CS) (Expert)
23 December 2009 Yes you are correct, the rules and thier Successor can cliam that exemption under wealth tax
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