Wealth tax

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Querist : Anonymous

Querist : Anonymous (Querist)

25 October 2013 would dwelling house and office premises will form part of value of taxable asset

CA Harish Shyam Choudhary

CA Harish Shyam Choudhary (Expert)
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25 October 2013 Office premises is not taxable under wealth tax as it is not an asset under Wealth Tax Act.

dwelling (residential) premises is an asset and taxable under wealth tax act, but any one residential house property is exempted from wealth tax under exemption section

for more details click the link

http://law.incometaxindia.gov.in/DIT/other-income-tax-acts.aspx?page=ODTA&TabId=tab_WTA

For any further query, feel free to ask

Regards
CA Harish Choudhary
E-mail: harishsc1989@gmail.com