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Wealth tax query Nov 2011

Suraj Agarwal (Self Practitioner in Income Tax & GST) (782 Points)

15 November 2011

Whether Loose Diamonds are covered under the definition of Assets u/s 2 (ea) of Wealth Tax Act ??

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CA Ghanshyam Joshi (CA, Dip IFR (ACCA UK)) (3229 Points)
Replied 15 November 2011

IT COVERS UNDER JEWELLERY - JEWELLERY INCLUDES - (2) PRECIOUS OR SEMI-PRECIOUS STONES, WHETHER OR NOT SET IN ANY FURNITURE, UTENSILS OR OTHER ARTICLE OR WORKED OR SEWN INTO WEARING APPAREL.

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CA,CMA,CS Karan Gogia (Employed) (230 Points)
Replied 15 November 2011

yes!!!

nicely explained by Mr. Joshi.....

Suraj Agarwal (Self Practitioner in Income Tax & GST) (782 Points)
Replied 15 November 2011

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