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Wealth tax: flat
if the client has property which is used for self residence and the market value is 10 cr.then will it be taxable as per wealth tax??? Is there any limit on value of property for exemption?
Replies (3)
If the property used for self residence than it doesn't cover under wealth tax
It will come under WT as per sec 2 (ea). But u may claim exemption under sec 5 (vi) of WT ACT.
Thank you Gagan and Naveesh for your help.
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