Wealth Tax on Commercial PRemises

This query is : Resolved

preet (Querist)
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22 January 2009 1) Wheather wealth tax is applicable on shops which is not used by assessee for business purpose?
2) Wheather wealth tax is applicable on commercial building which is not used by assessee for business purpose?
3) Wheather wealth tax is applicable on commercial building which is given on rent?
4) Wheather wealth tax is applicable on shops which is given on rent?

Guest

Guest (Expert)

16 January 2011 All commercial assets other than business assets are taxable assets for the wealthtax purposes.