Since , equity shares(of value >Rs 30lacs) are being held by my client , do he need to file the wealth tax return in this regard?Also , he is holding various other assets(total value> Rs 15lacs) like one single residential house , one car and two scooters?
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Wealth tax
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Wealth tax is no longer leviable with effect from the assessment year 2016-17. Taxpayers are, therefore, not required to file a wealth tax return from assessment year 2016-17 onwards.
My friend wealthtax is no longer exist now
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