Inclusion of closing cash bal of firm in individuval wealth

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 September 2013 can somebody pls help me out on this issue?

While distributing the assets of partnership firm to the partners, for computing wealth tax of an individual, closing cash balance of partnership firm to be included or not?

C A S.S.Agarwal, M.Com.,LL.B,

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
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04 October 2013 Yes all assets at market value and cash above 50,000 as assets of the firm which is to be divided in the ratios of profit to the partners for wealth tax purpose.

Querist : Anonymous

Querist : Anonymous (Querist)

05 October 2013 Thank u sir
thank u very much

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