Wealth tax calculation
This query is : Resolved
31 December 2015
Sir,
i want to know the calculation of wealth tax of an individual , who is also partner of two firms. wealth of firm shall apportion by their capital ratio. right.? one of the firm having negative capital ratio , that is he has 84,24,852 and other partner has (42,946) as their capital balance on financial year ending date after apportionment of firms profit. how can i apportion the wealth of firm among the partners. ?
and also help me to exclude the assets which stood out the purview of wealth tax, including the case laws.
i want to know the calculation of wealth tax of an individual , who is also partner of two firms. wealth of firm shall apportion by their capital ratio. right.? one of the firm having negative capital ratio , that is he has 84,24,852 and other partner has (42,946) as their capital balance on financial year ending date after apportionment of firms profit. how can i apportion the wealth of firm among the partners. ?
and also help me to exclude the assets which stood out the purview of wealth tax, including the case laws.
04 January 2016
anyone pls reply...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Fixe term employment
- GST ITC REVERSE
- Regarding Applicability of Tax Audit u/s 44AB
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Tds on commission charges
- TDS on TRUST
- Section 50-fixed asset-->building ceases to exist
- Consolidated financials
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
