Inclusion of let out property in the wealth tax assessment - ...

Wealth Tax Exemption for Income-Producing Properties u/s 2(ea)(i)(5): Leased Assets Not Taxed.

February 3, 2016

Case Laws Wealth-tax AT

Inclusion of let out property in the wealth tax assessment - scope and ambit of wealth tax u/s 2(ea)(i)(5) - wealth tax is not to be levied on productive assets - AT

View Source

← Previous Next →

Inclusion of let out property in the wealth tax assessment - ...

Wealth Tax Exemption for Income-Producing Properties u/s 2(ea)(i)(5): Leased Assets Not Taxed.

February 3, 2016

Case Laws Wealth-tax AT

You may also like:

Wealth tax - the commercial asset used by the assessee substantially and partly given on lease are not business assets and thus includible into the 'net wealth' u/s...

Valuation of property - Section 2(ea) of Wealth Tax Act, 1957 - whether security taken for lease of asset would be treated as debt - held No - AT

Determination of net wealth of assessee - Renting of property - once the rental income from the property is treated as “business income” and the character of the asset...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

Exemption from wealth-tax in respect of assets specified in declaration - THE INCOME DECLARATION SCHEME, 2016

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Business premises let out - Whether assessable as assets under section 2(ea) of Wealth tax or not - premises were not covered by exclusions provided under section 2(ea)(i) - AT

Exemption u/s. 2(ea) of the WT Act - even if the property is utilized for commercial purposes by the tenant, still it is outside the ambit of wealth tax and assessee...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

Leviability of Tax – Sales tax on Brand name holder & Licensee - Tax u/s 5(2) the Kerala General Sales Tax Act, 1963 – It is the brand name holder, who has to pay tax...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Inclusion of rented premises into wealth tax assessment - revenue yielding asset - section 2(ea)(i) nowhere requires that a commercial establishment or a complex could...

Correct head of income - Income from leasing or letting out the properties in shopping-cum-entertainment Mall - “income from business” or “income from house property” -...

Depreciation on leased assets - section 32 - Section 2(13) and Section 2(24) the income derived from leasing of the trucks would be business income - depreciaion allowed - HC

Quick Updates: