When it is applicable
pls reply
Menu
Wealth Tax
Replies (3)
wen ur assets lik farm house,motor cars,blddg,property,jewellery,etc n cash over Rs.50000.. less d debts owed are of value more dan 15 lakhs..as on d last day of F.Y i.e on 31st march,wealth tax is applicable @ 1% over n above 15 lakhs...bt 1 house is exempt frm tax..
n nw d new limit for wealth tax as per dis Budget is 30 lakhs..
what is the value to be taken? market value/purchase value
it is applicable to individual and company and rest regarding the conditions i agree with bhumika
there are some instances when AOP r also required to assessed to WT like when PSR is not known
Recent Topic
- Payment to foreign national
- Internal reconstuction
- IDS Refund – Annexure B & GSTR-3B Match,
- Can i should STCG and LTCG as business income ?
- Capital contribution in Firm
- Form 3CD – Clause 20(b) | ESI Contribution &
- Capital Gains on Dissolution of Partnership
- GST Payment through DRC-03 by cash against notice
- Schedule EI for ITR1
- INCOME TAX DEPARTMENT: DOUBLE STANDARDS
Related Topics
CAclubindia
