Wealth tax limit
This query is : Resolved
05 May 2014
Rs 30,00,000/-. Wealth Tax paid on wealth exceeding Rs 30 lacs @1%.
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05 May 2014
i heard from some one its increased up to Rs. 1Cr. and some says its Rs. 30 Lacs..
its Rs.30 Lacs.. finally. right?
its Rs.30 Lacs.. finally. right?
05 May 2014
Yes. For Wealth-tax the basic exemption limit is Rs. 30 lakhs. This means that there is no liability to payment of wealth-tax if you have got a taxable wealth up to Rs 30 lakhs.
05 May 2014
no 1 crore is wrong its 30 lakhs as basic slab upto which no wealth tax is applicable.
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