Hiiiiiiii......
Can somebody tell me whether the business assets of a proprietary concern should be taken and valued along with the valuation of assets of the proprietor while filing the wealth tax return of the proprietor???????????
2 Replies
C.A SHASHANK GOYAL
(Chartered Accountant)
(362 Points)
Replied 09 July 2011
YES , since status of proprietor of is not different from individual identity as per wealth tax act and is not a separate person so you need to give details of bussiness assets as well as only return will be filed under the wealth tax act .
Suraj S
(Audit Executive)
(335 Points)
Replied 09 July 2011
But how shud i value these assets???????
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