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Wealth tax

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(Querist)
09 January 2013 Dear All. Is there any change in wealth tax exemption limited for the Financial year 2012-13 which was previously 30lacs.

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Vaibhavi

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Vaibhavi (Expert)
11 March 2013 No,there is no change in exemption limit for Wealth Tax for the A.Y.2012-13.It remain constant i.e.30,00,000.
"Net wealth in excess of Rs.30,00,000 is chargable to wealth tax at1 per cent (no surcharge , education cess,etc)

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