Wealth Tax
This query is : Resolved
19 November 2008
1.Whether Live stock and deposits are included in computing net wealth.
2.Whether besides on residential property one house/part of house/plot of land belonging to an individual is exempt from wealth tax
2.Whether besides on residential property one house/part of house/plot of land belonging to an individual is exempt from wealth tax
19 November 2008
Live stock and deposits not an asset u/s 2(ea) for the WT purpose.
19 November 2008
Exemption as per sec 5(vi) in WT -
Individual / HUF : One house or part of a house or a plot of land not exceeding 500 sq.m . (Therefore, no exemption w.r.t part of a plot of land)
Individual / HUF : One house or part of a house or a plot of land not exceeding 500 sq.m . (Therefore, no exemption w.r.t part of a plot of land)
21 November 2008
Thanks
Can I get the clarification whether Loans and Advances and Investment included in Wealth and Loans(Secured & Unsecured) deducted to get net wealth.
Can I get the clarification whether Loans and Advances and Investment included in Wealth and Loans(Secured & Unsecured) deducted to get net wealth.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
