Wealth tax liability

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ealth tax liability<br> Query (Issue) Started By: - Vikas Aggarwal Dated:- 19-8-2013 Last Reply Date:- 24-8-2013 Other Topics<br>Got 1 Reply<br>Indian Laws<br>Dear all, Can you please suggest me in ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....the following issue:- An individual run a proprietorship business and having liable to tax audit, on 31.3.2012 in his audited balance sheet show cash of Rs. 2,50,000/- is this cash liable for Wealth ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tax, this cash is a normal course of business activity & totally use in the business of the individual (This cash is a productive asset) Can there is any judgement to exempt this excess cash for liab....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....le to wealth tax. regards, CA Vikas Aggarwal Reply By CA GOPALJI AGRAWAL: The Reply: Keeping in view that your taxable wealth exceeds the limit of Rs. 30.00 lac from other assets, cash in excess o....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....f 50K would be taxable in case of individual.<br> Discussion Forum - Knowledge Sharing ....