Wealth tax
This query is : Resolved
23 July 2012
Sir,
One of my client has a property in Thailand. he is citizen of India and ordinary resident in P.Y. 2011-12. His property will be considered for w tax purpose.
but his property has been let out for 9 months.
Is condition of letting out for more than 300 days for exclusion applicable in the case of property situated outside india also.
Shivish
One of my client has a property in Thailand. he is citizen of India and ordinary resident in P.Y. 2011-12. His property will be considered for w tax purpose.
but his property has been let out for 9 months.
Is condition of letting out for more than 300 days for exclusion applicable in the case of property situated outside india also.
Shivish
23 July 2012
Yes it will be applicable to properties held outside India also... But that property should be a Residential House property let out for a period of 300 days in the previous year..
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