Wealth tax is on hotel & restaurant
This query is : Resolved
Jaswinder singh
(Querist)
17 January 2015
dear sir,
please tell me about the wealth tax on hotel property and also its valuation under schedule 3 of wealth tax act?
please tell me about the wealth tax on hotel property and also its valuation under schedule 3 of wealth tax act?
CA PARAS BAFNA
(Expert)
17 January 2015
Hotel property can be said as a property in the nature of commercial establishment.
As per Section 2(ea)1(v) such property is excluded from the definition of "Assets" under the Wealth Tax Act.
.
As per Section 2(ea)1(v) such property is excluded from the definition of "Assets" under the Wealth Tax Act.
.
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Jaswinder singh
(Querist)
17 January 2015
thank u sir
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