sirs please can you clarify weather fixed deposit with banks are taken for computing wealth as defined in wealth tax as no where fixed deposit is mentioned only amount greater than 50000 is taken please i am slightly confuse over the issue
will
Menu
Fixed deposits -for wealth tax calculation
Replies (2)
No FD's are no counted for the purpose of computing Wealth Tax. Only cash-in-hand if it exceeds Rs 50000 then whole of it is to be considered for computing wealth of the assessee.
Any investments shall not form part of wealth tax, only cash in hand if > 50,000 as of 31st March would be laible to WT, now you can use service of www.wealthtaxpro.com to file your wealth tax return online.
Recent Topics :
- Input tax claim related
- User not found in MCA portal
- GST RATE ON FILM PRODUCTION
- Section 54
- Why are foreign investors suddenly buying Indian s
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
Related Topics :
CAclubindia
