ONE COMPANY (A) HAS GOLD BAR WORTH RS.1.50 CRORE AND DEPOSITED IN OTHER COMPANY (B) FOR JOB WORK AND GET COMMISSION FOR THE SAME. MY QUESTION IS THAT THE COMPANY (A) HAS TO PAY WEALTH TAX FOR THE GOLD HELD IN THEIR NAME. PLEASE SUGGEST.
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Wealth tax
Replies (2)
gold held as stock in trade does not come under the purview of wealth tax.
Otherwise wealth tax will apply.
agree with praveen
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