Is it necessary to pay wealth tax @ 1% on net wealth exceeding 30,00,000 Rs.. even if person not having any income in a financial year
Ashish Sharma
(Service)
(1028 Points)
Replied 10 June 2010
Wealth tax not depend upon Income it includes assets so if person have no income can not saved him from wealth tax
Rahul Gupta
(Project Controller ACA MBA(Fin.))
(8014 Points)
Replied 10 June 2010
Wealth Tax is not related to Income. It is to be paid if there are assets liable to wealth tax.
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