Exemption limit for wealth tax to go up to Rs 1 cr

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..... Exemption limit for wealth tax to go up to Rs 1 cr - News and Press Release Dated:- 31-8-2010 - News - New Delhi, Aug 31 (PTI) The Direct Taxes Code (DTC) Bill proposes to raise the exemption lim .....

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..... it for imposing wealth tax to Rs 1 crore from Rs 15 lakh at present, a move that will help a lot of taxpayers avoid the levy. The Rs 1 crore limit proposed in the Direct Taxes Code Bill, however, is .....

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..... much less that the exemption of Rs 50 crore proposed in the original draft. The DTC proposes to levy wealth tax at the rate of 1 per cent. Broadly, net wealth refers to taxable wealth, which means th .....

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..... e excess of assets over debts. The tax is levied only on specified assets under the Act and not on all assets. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement .....

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..... - taxmanagementindia.com - TMI - TaxTMI - TMITax .....

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