Wealth tax query
This query is : Resolved
30 August 2014
Please confirm whether or not i have to pay wealth tax every year on value of motor car.
whether i have to pay wealth tax every year on value of motor car
31 August 2014
Only if the Taxable wealth is more than Rs 30 Lacs. Suppose your taxable wealth is Rs 31 lacs then you need to pay wealth tax @1$ on Rs 1 Lacs only.
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