TaxTMI 
TaxTMI 
Wealth tax - Proprietorship concern
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....ealth tax - Proprietorship concern<br> Query (Issue) Started By: - Seema Dated:- 25-5-2009 Last Reply Date:- 25-5-2009 Other Topics<br>Got 1 Reply<br>Indian Laws<br>If a proprietorship concern has giv....
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....en its properties on Rent to a Company, then whether wealth Tax will be applicable on it or not, in case:- 1) it's business is of letting out of properties 2) it is carrying on Warehousing business an....
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....d renting properties is incidental to it. Reply By Rama Krishana: The Reply: Kindly see definition of assets under section 2(ea) of the wealth tax act, 1957. Accordingly, any house for residential o....
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....r commercial purposes which forms part of stock-in-trade; is excluded from the scope of wealth tax. Further, any property in the nature of commercial establishments or complexes is also excluded from ....
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....the scope of wealth tax. In addition, any property let out for 300 days in the previous year is not subject to wealth tax.<br> Discussion Forum - Knowledge Sharing ....