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Wealth tax

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(Querist)
03 May 2014 What is the threshold for wealth tax? What are the assests will be taken into a/c while calacualatin wealth tax.
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Harsha goyal

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Harsha goyal (Expert)
06 May 2014 Limit is Rs. 30,00,000/- Beyond that the tax is to be paid @ 1% + cess.
aasets to be included:
1. Cash in hands more than 50000.
2. Yachts, boats, aircraft.
3. Guest house, farm house, residential house, commercial building.
4. Motor car
5. urban land
6. Jewellery, bullion , utensils of gold, silver.
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