Wealth tax needs to be paid too!
No Comments Sub Category:Realty News,Uncategorized Posted On: Nov 30, 2011
Whether your asset yields income or not, you still have to manage to pay the wealth tax every year.
The property which exceeds the rate of Rs30 lakh will have to pay wealth tax at 1 percent of the total amount.
However, wealth tax on house property is payable only on the “unproductive assets” and the assets like; mutual funds, fixed deposits, shares and securities claimed as “productive assets” are exempted from wealth tax.
Source: Daily News Analysis
Tags:
Asset, Fixed deposits, House property, Mutual funds, Productive assets, Shares and securities, Wealth tax
