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Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 January 2012 Are antique watches or watches in general considered as assets as per the wealth tax act?
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CA Parth Shah

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CA Parth Shah (Expert)
06 January 2012 Hi,
It subjectable matter.
If you own 2-3 antique watches, its fine but if you are having a collection, the provisions of wealth tax may get attracted.

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