19 Oct 2014

V Nagarajan: Norms for paying wealth tax for apartment and office space in India

I own an apartment currently valued at Rs2 crore and an office space for business. Am I liable to pay wealth tax in India? Raju Wagh, Sharjah
No. One house irrespective of the value of the unit or part of a house or a plot of land not exceeding 500 sq.metres in area belonging to the assessee is exempt from wealth tax.


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