No exemption for commercial premises u/s.5(1)(iv) of Wealth Tax Act 1957.

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....) Referred: 5(1)(iv) Statute: Wealth Tax Act, 1957 As per Board's Instruction No.568 dated 9-7-73 exemption u/s.5(1)(iv) of the W.T.Act is available w.e.f. 1-4-72 even if the buildings are let out f....

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....t require any change. 2. The objections raised by the receipt audit have not been accepted by the Board. However a question has arisen as to whether remedial action, as a precautionary measure, shoul....