3 Tax Planning Tips Every NRI or PIO Thinking to Return to India Should Know !
Non Resident Indians when come back to India , it is but natural that they will bring various assets and money earned by them in India. The question arises whether the Wealth Tax Act will be applicable...
View Article2 Tax Defaults People Including Companies Unknowingly Do?
Not that tax defaults happen because tax payers wants it. Many time , it simply happens unknowingly because of the the complexity of Direct Tax Act- Income Tax Act and Wealth Tax Act and the way tax...
View ArticleMotor Car Valuations for Wealth Tax Planning Simplified !
Wealth Tax Act is applicable on individual, HUF and company on assets as defined u/s 2(ea) of the Wealth Tax Act 1957. One of the assets chargeable to wealth tax is motor car. What should be the motor...
View ArticleWealth Tax on Factory or Building Not Treated as Business !
This post about the renting of factory and its implication under Wealth Tax Act is asked by Dr Rathore, a premium subscriber in the Question & Answer module . Since the answer to the question needs...
View ArticleCommercial Establishments or Complexes : What Does it Mean Under Wealth Tax...
The definition of assets chargeable to tax under W.T. Act was amended from 01/04/1993 . Section 2(ea) was added under which only few assets –like buildings ,land ,jewellery,motor cars,yacht and cash...
View ArticleCan Booked Flat be Considered for Wealth Tax Purpose ?
This post originates due to question asked by the premium subscriber , Sri Sanjeev Khurana , CA of New Delhi regarding impact of allotment of flats or booking of flats where 70 to 80 % of money has...
View ArticleDeceased Person’s Wealth Tax Liability : 10 Most Important Point Every Legal...
When a person dies, he leaves behind his legacy and wealth . The government has enacted laws, both under Income Tax Act and Wealth Tax Act on the manner of charging income tax on any income which is...
View ArticleWealth Tax Valuation of Motor Cars Are Different Than When Used For Personal...
Section 2(ea) of Wealth Tax Act provides list of assets chargeable to wealth tax. Land, building ,jewellery ,yacht,boats etc are expressly provided as assets chargeable to wealth tax. Some of these...
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