Avail 20% discount on updated CA lectures for Dec 21 .Use Code RESULT20 !! Call : 088803-20003

ICICI

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

nitin bagadia (employee)     09 September 2012

What is th wealth tax limit

what is the wealth tax limit for a pvt ltd co... and the rate.... and if one has bought gold for trading... is it liable for wealth tax


 3 Replies


(Guest)

above 30lacs 1%

if for trading gold is not included

1 Like
CA Ashish Pathak

CA Ashish Pathak (Employed at Cipla Ltd.)     09 September 2012

Hey Nitin, be more precise what you mean by "bought gold for trading"? If you have bought it for sale to customers i.e if you have jewellary business and you have bought this gold as a stock for your business then this gold will not be liable to wealth tax. And if you bought this gold for investment purpose to sell at any time in future then this Gold will be included in your Net wealth and will be liable to wealth tax @ 1% of the amount by which net wealth exceeds Rs.30L.
nitin bagadia

nitin bagadia (employee)     09 September 2012

no ashish.... i am not a jeweller ... but i am a trader in the commodity and equity market ... and keep trading in the markets .... and had bought gold in hard form .. and keep hedging in futures from time to time... pls advice

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Start a New Discussion

Popular Discussion


view more »







Subscribe to the latest topics :
Search Forum:

Trending Tags