Poonawalla fincorps
Poonawalla fincorps

Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 September 2012 We purchased a plot from JP Associates and got the allotment letter but possession not received yet.
Whether this plot of land will be included in total assets for the computation of welath tax.
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
06 September 2012 Payment Made.
Allotment Made.
Liable for Wealth Tax.
Deduct the Liability Related to This if Taken on Loan.
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Querist : Anonymous

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Querist : Anonymous (Querist)
06 September 2012 Thanks Ayush. Can you tell me what if some part of payment is pending then it will be considered as asset or not
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CA AYUSH AGRAWAL

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CA AYUSH AGRAWAL (Expert)
06 September 2012 Deduct It as Value of Asset - Liablity Related to This Payable.

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