Wealth Tax Exemption u/s 5
This query is : Resolved
Anshul Singhvi
(Querist)
07 March 2011
Whether Expemtion u/s 5 of one House is avaialbe if assessee has only one house.
Kindly reply
Kindly reply
Sunil Kr. Sanganeria
(Expert)
08 March 2011
Exemptio u/s 5(vi) of wealth Tax Act, exemption is available to Individual or HUF
for a house inly. A house may be self occupied or let house.
for a house inly. A house may be self occupied or let house.
Anshul Singhvi
(Querist)
08 March 2011
If a assessee (being individual)has only one house, then he can claim the exemption u/s 5 (vi) or not.
Pls reply.
Rgds,
Anshul
Pls reply.
Rgds,
Anshul
CA PARAS BAFNA
(Expert)
08 March 2011
Yes, an Individual assessee can claim exemption u/s 5(vi) of wealth Tax Act as the expert has already mentioned in his reply.
Prakash Tolani
(Expert)
10 March 2011
Yes, an Individual assessee can claim exemption u/s 5(vi) of wealth Tax Act for one house even he has only one house
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