Wealth tax
This query is : Resolved
30 January 2012
I have two flats and one plot of 450 sq.mts. I am residing in one flat and one is vacate. Pls. tell about wealth on above.
31 January 2012
As per Section 5(vi) of the Wealth Tax Act, one house , of your choice, can be opted for exemption.
.
Another house and the plot will be taxable wealth.
.
Another house and the plot will be taxable wealth.
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