Wealth tax
This query is : Resolved
parteekjain
(Querist)
10 August 2011
IF WE GIVE THE VACANT LAND ON RENT TO A TANTHOUSE OR SHAMYANA OPERATOR FOR MORE THAN 300 DAYS THEN CAN WE CLAIM THE EXEMPTION FROM WEALTH TAX , JUST LIKE THE EXEMPTION AS IF WE CLAIM FOR A BUILDING GIVEN ON RENT FOR MORE THAN 300 DAYS.
CA PARAS BAFNA
(Expert)
10 August 2011
The provision is not applicable in the case of vacant land. 300 days or more tenancy is for residential house only.
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parteekjain
(Querist)
27 December 2011
THANK U SIR.
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