Wealth Tax on 3 flats

Dear All

             If an individual owns 3 flats , then one flat is  self occupied and not taxable under wealth tax.

            Also if a flat is rented then it is not taxable under wealth tax ,therefore the second flat (if on rent )also should be wealth tax exempted? 

           The third flat is in a different city and the net value(flat cost-loan) is hardly 3 lakhs.

           So how will be wealth tax computation for all three properties together?

          Appreciate if seniors can throw some light on this .

          Regards

          Sugata