Wealth tax
This query is : Resolved
20 March 2014
Kindly clarify whether if rental income is , received for a property whether the same property as to be showned for wealth tax Return
20 March 2014
Dear,
as per WT Act Section 2 house property is an asset, but under exception if same is let out for more than 300days same is excluded from assets.
as per WT Act Section 2 house property is an asset, but under exception if same is let out for more than 300days same is excluded from assets.
20 March 2014
yes if it is let out for more then 300 days in prev FY then it is taxable asset.
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