Personal or household use exemption covers domestic appliances under wealth tax, irrespective of movability, excluding specified high value items. Instruction 1329/CBDT interprets section 5(1)(viii) of the Wealth Tax Act to exempt articles intended for personal or household use; movability is not material. Consequently, domestic appliances and fixtures such as fans, refrigerators, air conditioners, geysers and desert coolers are within the exemption, while items expressly excluded by statute or instruction remain outside it.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Personal or household use exemption covers domestic appliances under wealth tax, irrespective of movability, excluding specified high value items.
Instruction 1329/CBDT interprets section 5(1)(viii) of the Wealth Tax Act to exempt articles intended for personal or household use; movability is not material. Consequently, domestic appliances and fixtures such as fans, refrigerators, air conditioners, geysers and desert coolers are within the exemption, while items expressly excluded by statute or instruction remain outside it.
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