Hello Friends,
Plz. clearify the position of Guest House in the Wealth Tax Act.
Is there any limit (distance) from the local limit for the guest house to be an asset u/s 2(ea) ??
Suraj Agarwal (Self Practitioner in Income Tax & GST) (782 Points)
05 May 2012
Hello Friends,
Plz. clearify the position of Guest House in the Wealth Tax Act.
Is there any limit (distance) from the local limit for the guest house to be an asset u/s 2(ea) ??
manish nainani
(CA)
(450 Points)
Replied 05 May 2012
guest house is located anywhere is always treated as an ASSET. hence, included for computation of wealth tax.
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)