30 March 2012
Yes you need to pay wealth tax on cars. Only motor cars used for running them on hire and stock in trade only be excluded from the definition of assets u/s 2(ea)
30 March 2012
Thanks for your reply... What value do we need to consider to pay wealth Tax?
As per wealth tax, WDV value should be considered, but WDV as per companies act or as per income tax? Bcoz it says value of assets disclosed in balance sheet.