Wealth tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2016
Assessee is a sole proprietor. He has investment in business. Business balance sheet has stock, debtors, cash in hand and bank as on 31.03.2015.. Assess also owns a residential property. Question If cash in the business balance sheet is asset as per wealth tax act then what about stock and debtors?
Thanks in advance
Thanks in advance
14 December 2016
Stock and Debtors are not the assets as per Wealth tax. If cash in hand is more than Rs.50000 then taxable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
