05 October 2013
A Company has taken on rent a store for the period of 25 years for running retail business. Will wealth tax be payable bye lessee i.e. Company in this case where lease tenure is more than 15 years,where wealth tax liability shifts from Lessor to Lessee
05 October 2013
But section 4(8)(b) of wealth tax act says, in case of lease tenure for the period of 12 years or more, lessee will be liable to pay wealth tax