Imposition of wealth tax - Once the non-productive asset like ...

Wealth Tax Exemption: Urban Land Converted to Productive Use Qualifies for Exemption During Conversion Period.

April 21, 2016

Case Laws Wealth-tax AT

Imposition of wealth tax - Once the non-productive asset like urban land is converted to a productive asset like a building which qualifies for exemption, then the assessee can start availing of exemption even during the period of conversion of such non-productive asset to productive asset - AT

View Source

← Previous Next →

Imposition of wealth tax - Once the non-productive asset like ...

Wealth Tax Exemption: Urban Land Converted to Productive Use Qualifies for Exemption During Conversion Period.

April 21, 2016

Case Laws Wealth-tax AT

You may also like:

Exigibility of 'Urban Land' to wealth tax - submission was that the moment construction starts the urban land is put to 'productive use' and that entitles the land from...

Value of the land for Wealth Tax - Exemption u/s 2(2ea)(ii) - t if on a plot of land construction of a building is not permissible under any law then the said plot of...

The lands being agricultural lands have been excluded from the wealth tax - AT

Wealth Tax - 'urban land' as per Section 2(ea)(v) - Structure standing over the land during the relevant period being a half/semi-finished one cannot come within the...

Exemption u/s 10(37) - Assessee has received compensation on compulsory acquisition of urban agricultural land - Once sufficient material is placed that land was...

Inclusion of let out property in the wealth tax assessment - scope and ambit of wealth tax u/s 2(ea)(i)(5) - wealth tax is not to be levied on productive assets - AT

Wealth-tax is not levied on productive assets, and in view of that logic, it was proposed that wealth-tax would not be levied on such residential property that has been...

Exemption from wealth-tax in respect of assets specified in declaration - THE INCOME DECLARATION SCHEME, 2016

Incomplete building neither falls within the definition of a building, u/s 2(ea), nor within the purview of urban land - Not liable to Wealth Tax

Land which was converted to stock in trade the same was not eligible for imposition of wealth tax - AT

Valuation of property - Enhancement in valuation - Land converted from small scale industrial use to 20% residential use - still being used for business - not taxable...

Wealth Tax Liability - Whether Club can be treated as "Association of Person"? - Charging provisions under the Income Tax versus under the Wealth Tax - This argument of...

Exemption u/s 10(37) - impugned land was acquired by executing a sale deed in favour of Vizhinjam International Seaport - the entire procedure prescribed under the Land...

Wealth tax assessment - the assessee cannot avail exemption for a plot of land, even if it is having an area of less than 500 sq. mts or less, if he had already claimed...

Inclusion of Agricultural lands for the purpose of wealth tax - Once the lands are classified as agricultural lands, in the revenue records of Government and used for...

Quick Updates: