Wealth tax = commerical property

Pvt ltd hold 4 Commerical property and this property hasbeen given on Rent .

Whether this property will be under wealth tax act .

Replies (5)

It will become taxable under Wealth tax becoz the said properties has not been used for business purpose.

I think below article can help you

https://taxauthority.blogspot.in/2014/08/blog-post.H T M L

Originally posted by : Gagan Deep Singh
It will become taxable under Wealth tax becoz the said properties has not been used for business purpose.

But as per wealth tax act asset other than asset specified in section 2(ea) are outside purview of wealth tax , in this they says : "any property in the nature of commercial establishments or complexes" Means all 4 property will be exempted from wealth tax ????

Commercial property is not included while calculating net wealth of a person under wealth tax act.

Originally posted by : abhishek goyal
Commercial property is not included while calculating net wealth of a person under wealth tax act.

Here it is PVT LTD CO .

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