wealth tax
This query is : Resolved
08 December 2009
Can u please guide me regrding the value to be considered for Net Wealth in the case of Vehicles recorded in the Balance Sheet of a Pvt. Ltd. Co. ?
Is it WDV as per Companies Act or
is it WDV as per Income Tax Act ?
(Refernce : Schedule III of the Wealth Tax Act)
Is it WDV as per Companies Act or
is it WDV as per Income Tax Act ?
(Refernce : Schedule III of the Wealth Tax Act)
08 December 2009
As per rule 14(1) and 14(2)(a) of schedule 111 to the Wealth tax Act,1956 your first choice is the answer.
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