Wealth tax - Proprietorship concern

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..... Wealth tax - Proprietorship concern
Query (Issue) Started By: - Seema Dated:- 25-5-2009 Last Reply Date:- 25-5-2009 Other Topics
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Indian Laws
If a proprietorship concern has gi .....

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..... ven its properties on Rent to a Company, then whether wealth Tax will be applicable on it or not, in case:- 1) it's business is of letting out of properties 2) it is carrying on Warehousing business a .....

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..... nd renting properties is incidental to it. Reply By Rama Krishana: The Reply: Kindly see definition of assets under section 2(ea) of the wealth tax act, 1957. Accordingly, any house for residential .....

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..... or commercial purposes which forms part of stock-in-trade; is excluded from the scope of wealth tax. Further, any property in the nature of commercial establishments or complexes is also excluded from .....

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..... the scope of wealth tax. In addition, any property let out for 300 days in the previous year is not subject to wealth tax.
Discussion Forum - Knowledge Sharing .....

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