Wealth tax

Originally posted by : Nandini
	Is scooter is chargeable assets under Wealth Tax?

scooter do not fall under the assets covered U/s 2(ea) of the wealth tax act. Hence sccoter is not a chargeable asset under wealth tax act.

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agree with above solution scooter is not assest under wealth tax act

agreee with above

SCOOTER DOES NOT FALL WITHIN THE AMBIT OF ASSETS DEFINED U/S 2(ea) so it will not be added with the other assets as defined under the aforesaid section

Scooter is not treated an asset under section 2(ea).

However Motor Car is treated as an asset except the following two...

1) Motorcar used by the assessee in the business of running them on hire or

2) Motorcar treated as Stock-in- trade.....

scooter is nt covered in the definition of asset u/s 2(ea).hence nt chargeable to WT

scooter is not covered under defination of assets under wealth tax

scootern is not an asset

Scooter is  Treated as Item of Personal Effects. It not covered under  definition of asset u/s 2(ea).hence nt chargeable to WT

Scooter is  Treated as Item of Personal Effects. It not covered under  definition of asset u/s 2(ea).hence nt chargeable to WT

Scooter is not motor car and can't be treated an asset under section 2(ea).