Valuation of Motor Cars

Wealth Tax Valuation of Motor Cars Are Different Than When Used For Personal Purpose...

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...
Wealth Tax

Deceased Person’s Wealth Tax Liability : 10 Most Important Point Every Legal Heir Should...

When a person dies, he leaves behind his legacy and wealth . The government has enacted laws, both under Income Tax Act and Wealth...
Wealth Tax

Can 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...
commercial establishments

Commercial Establishments or Complexes : What Does it Mean Under Wealth Tax Act ?

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...
wealth tax

Wealth 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...
motor car valuations

How to Reduce Motor Car Valuations Under Wealth Tax Act !

Wealth Tax Act is applicable on individual, HUF and company  on assets defined u/s 2(ea) of the Wealth Tax Act 1957. One of the...
tax planning

3 Tax Planning Tips Every NRI or PIO Thinking to Return to India Should...

Non Resident Indians when come back to India , it is but natural that they will bring various assets and money earned by them...
tax defaults

2 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...
registered valuers

How CA, CS or ICWAI Can Become Registered Valuers With Tax Department Easily !

Chartered accountants or Company secretaries or cost accountants can easily become registered valuers for the purpose of valuation of stocks, shares, debentures, securities, shares...

Section 19A of W.T.Act : Assessment in the case of executors.

Assessment in the case of executors.19A. (1) Subject as hereinafter provided, the net wealth of the estate of a deceased person shall be...

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