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Wealth tax exemption limit

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Ravi (Querist)
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01 August 2014 PLEASE EXPLAIN NEW WEALTH TAX EXEMPTION LIMIT
PREVIOUS YEAR THIS LIMIT IS 30 LAC.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2014 Yes Exemption limit is Rs 30 lacs even now. If taxable wealth is more than Rs 30 lacs then 1% of such excess amount to be paid as wealth tax.

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