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What is the Maximum Limit for Wealth Tax?

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(Querist)
19 May 2010 Has the limit of Wealth Tax increased from Rs.15 Lakh to Rs.30 Lakhs.
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Akbar Mirza

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Akbar Mirza (Expert)
19 May 2010 Yes now wealth tax is payable on Net wealth of Rs. 30L.
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
19 May 2010 WEALTH TAX PAYABLE ON NET WEALTH > 30LACS
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CS Richa Sharma

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CS Richa Sharma (Expert)
19 May 2010 Yes, the limit for wealth tax has increased to Rs 30 lakh, from the earlier Rs 15 lakh.
The change has been proposed considering the prevalent inflation conditions. It is expected that the limit may be further raised considering the same.
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CA Ravi Sisodia

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CA Ravi Sisodia (Expert)
19 May 2010 yes limit of Wealth Tax increased to Rs. 30 lakh
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CA CS Ravi Mehata

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CA CS Ravi Mehata (Expert)
02 July 2010 ya it has been increase to 30 lak
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