Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 November 2011
Dear sir\mam,
Here I want to know how to calculate the wealth tax
Here I want to know how to calculate the wealth tax
CA PARAS BAFNA
(Expert)
13 November 2011
For calculating Wealth-Tax, you have to apply rate of 1% on the Net wealth exceeding Rs30,00,000.
.
Net Wealth can be found easily by deducting
Debts owed in Respect of (Taxable) Assets
from the Total Assets.
.
In Wealth tax you would have to refer the
Act to find out which assets are Taxable Assets in the Wealth tax Act.
.
Net Wealth can be found easily by deducting
Debts owed in Respect of (Taxable) Assets
from the Total Assets.
.
In Wealth tax you would have to refer the
Act to find out which assets are Taxable Assets in the Wealth tax Act.
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