S.Gupta c/o KPS (NA) (187 Points)
29 March 2018Since , equity shares(of value >Rs 30lacs) are being held by my client , do he need to file the wealth tax return in this regard?Also , he is holding various other assets(total value> Rs 15lacs) like one single residential house , one car and two scooters?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(170847 Points)
Replied 29 March 2018
Wealth tax is no longer leviable with effect from the assessment year 2016-17. Taxpayers are, therefore, not required to file a wealth tax return from assessment year 2016-17 onwards.
Sarath Rajendran
(Nil)
(2791 Points)
Replied 30 March 2018
My friend wealthtax is no longer exist now
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