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Wheater wealth tax on building (let out)

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2013 any one tell me wheater Wealth Tax On Building (let Out) to be Charge or not.
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
31 October 2013 Residential property and which is let out for a minimum period of 300 days in the previous year.
Then it will be treated as asset and it will attract wealth tax...
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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2013 Building is let out for Commercial purpose
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CA Pallav Singhania

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CA Pallav Singhania (Expert)
31 October 2013 No then it wouldn't be considered in wealth tax...
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
31 October 2013 No wealth tax chargeable in this case.
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