WEALTH TAX
This query is : Resolved
09 July 2009
i HAVE BALANCE OF RUPEES THREE LACS IN VARIOUS SAVINGS BANK ACOUNTS & CASH BALANCE OF 65000/- AND LOANS OF 18 LACS. wHAT IS MY STATUS OF WEALTH TAX SHOULD I CLAIM DEDUCTION FOR BANK BALANCE & CASH IN HAND AND FILE WEALTH TAX RETURN FOR ONLY 18 LACS. ALSO UNDER WHAT HEAD SHOULD I TAKE LOANS AND ADVANCES AS THERE IS ONLY ONE COLUMN OF CASH IN HAND.
10 July 2009
bank is not counted for wealth tax & cash of more than 50000 will be considered.
loans & advances are also not wealth.
loans & advances are also not wealth.
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