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Wealth Tax Motor Car

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(Querist)
02 June 2009 Our company have 50 cars.
For Wealth Tax purpose if 49 car's net value is positive & 1 car's value is negative (Because loan amount is greater than WDV).
Then should we net up or to take positive values only?
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CA CS CIMA Prakash Somani

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CA CS CIMA Prakash Somani (Expert)
02 June 2009 You should net up.

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