computation of net wealth

Dear Simranjeet,

1) House property - Not an asset being used for Business

2) Vehicles - ALL 3 Vehicles are taxable

3) cash in hand = 3,00,000 is taxable

4) jewellery =    15,60,000 is taxable

5) Value of urban land is taxable  but again exemption in respect of land can be claimed u/s 5(vi)provided upto 500 sq metres

thanks again brother........

in this question deduction of urban land have to be given or not. whats the final answer is it 4914000

and we can show in the note that deduction for land can be claimed provided upto 500 sq. meters.is it right and we have to show like that gross wealth 4914000

less: exemption nil

net wealth        4914000

then we have to give note for deduction .pls provide me the exact format i have to write this answer for cc paper.

Dear Simranjeet,

Exemption of urban land can be given with a Foot note.........

i.e means final answer is 49,14,000 as i had wrote

gross wealth : 4914000

less : exemp     nil

Net wealth        4914000

note: exemption in respect of land can be claimed u/s 5(1) (6) provided upto 500 sq. meters

is this format right finally

Dear Simranjeet,

ya this is correct.........