Wealth tax
This query is : Resolved
25 October 2014
My brother recently purchased jewelry, the purchase bill holds the name of his unmarried major daughter, will there be any complications in showing the jewelry as an asset in his balance sheet?
26 October 2014
First of all father has to show as gift and then the daughter can claim the same in her Balance Sheet and if the jewellery is below WT limit then no tax
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