Wealth tax clarifiaction required

This query is : Open

siva kumar (Querist)
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30 January 2014 Dear Sir,

if an person have 3 buildings

1 - is used for own occupation
2 & 3 - property's are given to lease to finance companys.

under section 2 ea the leased propertys are expemted.

please clarify these are exempted are not.

CA Hardik Bunha

CA Hardik Bunha (Expert)
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30 January 2014 No, leased properties are taxable according to its calculation depends period of lease.

siva kumar

siva kumar (Querist)
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30 January 2014 could you please clarify some more on it.

if you are saying that its calculation is depend upon lease period.

if vacant site is also taxable or not, if it is given to lease.

under wealth tax

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