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Wealth-tax - Highlights / Catch Notes

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Section 2(ea)(i)(4) of the W.T Act does not contemplate the ...


Residential Property Use Not Limited to Residence, Exemption if Let Out 300+ Days per Year: Wealth-tax Act Sec 2(ea)(i)(4.

April 16, 2016

Case Laws     Wealth-tax     AT

Section 2(ea)(i)(4) of the W.T Act does not contemplate the usage of residential property only for residential purpose. We find that this section only says the residential property that has been let out for a minimum period of three hundred days in a previous year is eligible for exemption. - AT

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