Sir,
One of my client is having following assets with him as on 31.03.2013. I want to know whether following asset will be included in his wealth while computing wealth tax?
1. Residance house under construction : 26 Lkhs
2. Plot of land (residential) : 10 Lakhs (MV : 18 lkhs)
3. Plot of land : 16 Lakhs (MV 20 Lkhs)
4. Indudtrial plot of land : 13 Lakhs (MV 20 Lakhs)
5. Investment in a propritory concern : 96 Lakhs
6. FDR in SBI : 20 Lakhs
7. Loans & Advances : 347 Lakhs
8. Sundry Debtors : 17 Lakhs
9. Bank BAlance : 55 Lakhs
He has not taken loan from any party. please guide me.
CAclubindia
