Is scooter is chargeable assets under Wealth Tax?
11 Replies
V Vara Prasad
(Chartered Accountant)
(212 Points)
Replied 28 November 2011
| Originally posted by : Nandini | ||
 |
Is scooter is chargeable assets under Wealth Tax? |
 |
scooter do not fall under the assets covered U/s 2(ea) of the wealth tax act. Hence sccoter is not a chargeable asset under wealth tax act.
0
CA VISHAL RANA,CS,B.Com,AMFI
(Chartered Accountant in Whole Time Practice)
(4354 Points)
Replied 28 November 2011
agree with above solution scooter is not assest under wealth tax act
PRATEEK
(ACA)
(102 Points)
Replied 28 November 2011
SCOOTER DOES NOT FALL WITHIN THE AMBIT OF ASSETS DEFINED U/S 2(ea) so it will not be added with the other assets as defined under the aforesaid section
Sanket
(!..Live to Give..!)
(16427 Points)
Replied 28 November 2011
Scooter is not treated an asset under section 2(ea).
However Motor Car is treated as an asset except the following two...
1) Motorcar used by the assessee in the business of running them on hire or
2) Motorcar treated as Stock-in- trade.....
swati
(ca final student)
(157 Points)
Replied 28 November 2011
scooter is nt covered in the definition of asset u/s 2(ea).hence nt chargeable to WT
CA Rajat Jain
(CA)
(1677 Points)
Replied 28 November 2011
scooter is not covered under defination of assets under wealth tax
pawan yadav
(C.A. Final)
(45 Points)
Replied 29 November 2011
Scooter is Treated as Item of Personal Effects. It not covered under definition of asset u/s 2(ea).hence nt chargeable to WT
pawan yadav
(C.A. Final)
(45 Points)
Replied 29 November 2011
Scooter is Treated as Item of Personal Effects. It not covered under definition of asset u/s 2(ea).hence nt chargeable to WT
Rup Kumar
(finance manager)
(288 Points)
Replied 30 November 2011
Scooter is not motor car and can't be treated an asset under section 2(ea).
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