Don't Worry , Be Happy !
I will return to India for permanent settlement in June 2007.Am I exempted from wealth tax for the next seven years?Please explain the existing wealth tax rule for bank deposits. purackal@hotmail.comSection 5 of the Wealth Tax Act is regarding the exemption granted to certain types of case. Sub-section (v) of section 5 deals with the
Gold and silver are assets both under Income Tax Act as well as Wealth tax Act. Therefore , the valuation of gold and silver is required to be done for the purpose of computing taxable wealth. Then there are times when people receives gold and silver items as gift on the occasion of marriage, birth...
I think investment in partnership firm is not attracted by India wealth tax act. Confirm quoting section. R.Raja Raman ,Banglore I do not think so. The interest in a firm is certainly assessable under Wealth Tax Act. The confusion is created because the asset defined under section 2(ea) of the Wealth Tax Act does not...
Under the Wealth Tax act, if the income of the parents are same, then under whom, the clubbing of income of the minor children should be done? yoshitalodha@il.com Section 4 of the Wealth Tax Act is regarding inclusion of certain wealth in an individuals wealth. Section 4(a)(1)(ii) is as under : “In computing the net...
I have a plot of land that I had purchased for Rs. 3.7 lacs which is registered in my name. This was bought about 4-5 years ago.I recently bought another plot for Rs. 18.00 lacs. I have paid the stamp duty and regn but not recd. the certificate yet from the local municipality…it is expected...
The proposal of Cyprus government to impose a 7.5% tax on all money kept in fixed deposits in the … [Read More...]
PAN and TAN applications require you to fill up the the jurisdiction in which the applicant is … [Read More...]
Monthly Subscription
Annual
Semi Annual Subscription
Quiz for CA/ICMA/CS Students