Applicability of wealth tax

ritesh (CA) (106 Points)

05 August 2013  


one of clients has 2 house properties of which first  property  is in possession along with the property is registered and stamp duty is paid. this property higher in value is taken as under exemption

now the 2nd property is not registered and no stamp duty is paid. the client has possession letter from the builder.

what i want to know is wheather the 2nd property is liable to wealth tax?

i have gone through the act and there is no mention of such situations.

neither i was able to find any case laws.


thanks for the help


Ritesh Bafna