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wealth tax

This query is : Resolved 
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(Querist)
09 September 2009 why aop is not covered under wealth tax
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CP Ram

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CP Ram (Expert)
09 September 2009 This is so because, the value of the interest in assets of the AOP is included in the net wealth of the members...

Note: The above provision also applies to Partnership Firm..hence, firm is not covered under the wealth tax..
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CA CHINTAN AJMERA

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CA CHINTAN AJMERA (Expert)
09 September 2009 Agree
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