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Wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
25 April 2014 Whether the amount of One House Property meant for Residential Purpose can be excluded in calculating the amount of net wealth for Wealth Tax Purpose?
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Pradeep Shah

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Pradeep Shah (Expert)
26 April 2014 yes as per exemption under sec 5(VI) a one house for residential purpose is exempt in wealth tax.

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