Need for Wealth Tax Planning and Compliance :
As per the Wealth Tax Act, 1957, every Individual, HUF and Company are required to pay Wealth Tax at the rate of 1%, if his Net Wealth computed as at 31st March exceeds Rs. 30 lakhs.
For Computing the Net Wealth, values of following assets are required to be considered:
- Value of Immovable property( Except one Residence house)
- Value of Movable property
- Motor Car
- Cash in hand (above prescribed limit)
- Interest held in the Assets of the Firm or Association of Person as a Partner or Member thereof
How our service can assist
- Wealth Tax Planning for Corporate, HUF & Individual.
- Filing of Wealth Tax Returns for Corporate, HUF & Individual.
Criteria showing Agricultural Land for Wealth Tax