Wealth tax on second residential property
This query is : Resolved
Ramadevi Srinivasan
(Querist)
03 December 2014
Second residential property booked in Dec 2012; possession expected in 2014-15; then whether wealth tax/ income tax applicable for FY 2014-15? If so, how it is to be computed?
AJIT SINGH
(Querist)
03 December 2014
we hv rcvd bill for manpower service 300000/- we paid (309270 I.e. 25% st incl). and rest tax portion 27810 to govt.
my query when we file our st -3
which amount can be availed in credit (25% of st or 75% of st or 100% of st )
03 December 2014
if ur owning it on last day of year i.e 31.3.2015 then ur liable for wealth tax as only 1 residential house is permitted for exclusion from cal of assets u/s 2 (ea).
03 December 2014
2 nd queery is ans here :
https://www.caclubindia.com/experts/figures-1933609.asp#.VH6akNKUdic
https://www.caclubindia.com/experts/figures-1933609.asp#.VH6akNKUdic
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