wealth tax caculation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

02 June 2010 if municipal vakuation of a property(asset) is Rs.100000/-and rent recevied is Rs.900000/- whether municipal valuation can be considered for wealth tax purpose?

kantijain

kantijain (Expert)
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04 June 2010 dear ????,

U have not mentioned whether it is a residential house or complex. Also if it is a residential house is let out for than 300 days then it is not an asset chargeable to wealth tax u/s 2(ea).

Querist : Anonymous

Querist : Anonymous (Querist)

11 June 2010 the person is an Individual and has let-out residential house property