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Valuation of plot of land for Wealth Tax purpose

This query is : Resolved 
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(Querist)
13 February 2010 Dear sir
As we all know a vacent plot of land is taxable asset under wealth tax..
my quiry is that i have purchase one plot of land in 1995 and know i have to file wealth tax return......
for this i have to mention the value of the plot in the calculation of total wealth......
So which value i should show is it the purchase cost or the current market value certified by the valuation officer.......
if i need to get it certified by the valuation officer who will be the eligible valuation officer for the same....
kindly reply early its urgent......
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CA. Ashish Bihani

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CA. Ashish Bihani (Expert)
07 April 2010 Current market Value... To be more clear, value as on respective year end date i.e. 31st March.

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