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query on wealth tax

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(Querist)
04 September 2008 whether the assets used for the purpose of business or profession to be included in calculation of net wealth of assesee?

Sch-III specifies the valuation method to be adopted to value the assets.What about the assets which are not covered in sch-III like motor car,land.
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
05 September 2008 Value of cars used in a business is definitely a part of taxable wealth of that enterprise.
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CMA Jitendra Singh

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CMA Jitendra Singh (Expert)
05 September 2008 Please give list of Assets & applications of same to determine exactly
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