Wealth Tax

This query is : Resolved

nandni (Querist)
Follow

19 November 2008 1.Whether Live stock and deposits are included in computing net wealth.
2.Whether besides on residential property one house/part of house/plot of land belonging to an individual is exempt from wealth tax

Ravikumar.G

Ravikumar.G (Expert)
Follow

19 November 2008 Live stock and deposits not an asset u/s 2(ea) for the WT purpose.

Ravikumar.G

Ravikumar.G (Expert)
Follow

19 November 2008 Exemption as per sec 5(vi) in WT -

Individual / HUF : One house or part of a house or a plot of land not exceeding 500 sq.m . (Therefore, no exemption w.r.t part of a plot of land)

nandni

nandni (Querist)
Follow

21 November 2008 Thanks
Can I get the clarification whether Loans and Advances and Investment included in Wealth and Loans(Secured & Unsecured) deducted to get net wealth.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Sunny Sharma

Rajat Khandelwal

ASHOK B GONDKAR

ashvini tripathi

CA Lalit Kumar Agrawal

Subscribe Now

Wealth Tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANT

Accountant

CA Final

GST CONSULTANCY

Senior Executive

Manager- Finance and Compliance