Since , 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?
2 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177896 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
Recent Topics
- NRO Interest - Taxed at source and in Foreign Coun
- Clarity needed on effective date
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
Related Threads
CAclubindia
