wealth tax query
This query is : Resolved
04 January 2010
will Gold ornaments given as loan to other parties shall be treated as assets for the purpose of wealth tax computation.
and
will normal loan given to any party shall be treated as assets for the purpose of wealth tax computation
and
will normal loan given to any party shall be treated as assets for the purpose of wealth tax computation
04 January 2010
Dear Deepak
As per Sec 2(ea) Gold Ornament is an Assets so it's value is computed for welath tax liability since ownership is not transfered so it is computed in your hand only,
2) Normal Loan given as cash does not form asset, only hard cash form asset so no wealth tax on such loan
As per Sec 2(ea) Gold Ornament is an Assets so it's value is computed for welath tax liability since ownership is not transfered so it is computed in your hand only,
2) Normal Loan given as cash does not form asset, only hard cash form asset so no wealth tax on such loan
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
