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Property tax vs wealth tax
When we are making the property tax payment annually then ,why we need to make wealth tax payment?
Will the property tax paid deductible from wealth tax?
Replies (2)
no, it is not deductible. property tax is revenue of state govt and it is imposed on value of house property as per municipal rules.... however wealth tax is revenue of central govt and it is imposed on value of all assets considered under wealth tax act.
What is the rate of property tax?
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