Easy Office
LCI Learning

Wealth tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
13 July 2013 Dear sir,

I have found on Return under Wealth Tax where the person has adjusted debts owed against other asset the details are as follows.

Motor Car (Sch. III Value ) 500000
Loan taken For purchase of Motor Car 700000
Jewelry (FMV) 500000

Net Wealth Calculated is 300000
ie. (500000-700000)+ 500000

Whether the contention of person is correct or not ?

Please Guide.
Profile Image

CA LOKESH KASAT, FCA, M.Com

Profile Image

CA LOKESH KASAT, FCA, M.Com (Expert)
17 April 2017 Very old query need to be closed now

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries


CCI Pro
Live Budget News and Updates

Trending Online Classes

view all classess
Let's Talk Money: You've Worked Hard for It, Now Make It Work for You
Click here for more bestsellers


Answer Query



Quick Links