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https://www.lawyersclubindia.com/experts/valuation-of-jewellary-under-wealth-tax-47681.asp
Nov 13, 2009 · Wealth tax will be charged @ 1% on the net wealth including jewellery in excess of Rs.15 lakhs on the valuation date (31st March of the Previous Year). Vineet (Expert) 15 November 2009. 15 November 2009 Valuation of Jewellery as on 31st March of the relevant year for which wealth tax is being paid. It is not mandatory to have any valuation ...
https://itatonline.org/articles_new/implications-of-jewellery-found-during-the-course-of-search-u-s-132-of-the-income-tax-act-1961/
Jun 11, 2020 · (ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms per unmarried lady and 100 gms. per male member of the family, need not be seized.Estimated Reading Time: 12 mins
https://taxguru.in/income-tax/applicability-wealth-tax-making-charges-jewellery.html
Jun 25, 2014 · CA Vidhan Surana & CA Sunil Maloo. Whether wealth tax leviable on the making charges of the jewellery? – A Detailed Analysis. Under the scheme of Wealth Tax in India, Wealth tax is levied on the net wealth of the every individual, Hindu undivided family and company as on the valuation date.
https://www.caclubindia.com/experts/wealth-tax-jewellery-valuation--1810644.asp
Jul 30, 2014 · Wealth tax - jewellery valuation This query is : Resolved Report Abuse Follow Query Ask a Query. Querist : Anonymous ... 1993 wherein it has been mentioned that valuation report obtained shall be the basis for valuation of next 4 Assessment Years in case of jewellery exceeding Rs. 5 Lacs. Is there any change after that in the said rule or cicular?
https://www.incometaxindia.gov.in/Acts/Wealth-Tax%20Act,%201957/102120000000026474.htm
JEWELLERY [Valuation of jewellery. 18. The value of the jewellery shall be estimated to be the price which it would fetch if sold in the open market on the valuation date (hereafter in this rule referred to as fair market value). (2) The return of net wealth furnished by the assessee shall be supported by,—
https://taxguru.in/income-tax/no-addition-jewellery-mere-non-match-description-wealth-tax-returns.html
Mar 09, 2019 · No addition on account of jewellery items on seized documents did not tally with description of jewellery in Wealth-tax returns in case total weight of jewellery was same. Conclusion: Where total gold jewellery in weight found at the time of search matched with the earlier declarations made by assessee in his Wealth-tax returns and VDIS, there ...
https://www.caclubindia.com/experts/limit-of-exemption-for-an-assessee-to-keep-jewellery--835650.asp
Dec 06, 2011 · (ii) In the case of a person not assessed to wealth-tax gold jewellery and ornaments to the extent of 500 gms. per married lady, 250 gms. per unmarried lady and 100 gms per male member of the family need not be seized.
https://blog.ipleaders.in/wealth-tax-computation/
The Wealth Tax is calculated on the market value of the assets. Some of the basics rules in the following: Wealth Tax is collected from an individual, HUFs and Companies. If the net wealth is up to 30 lacs then no tax is payable. Where the net wealth exceeds 30 lacs, the wealth tax collection will be 1%.Estimated Reading Time: 9 mins
https://www.incometaxindia.gov.in/Rules/Wealth-Tax%20Rules,%201957/2010/103120000000006826.htm
(b) he has been convicted of an offence connected with any proceeding under the Income-tax Act, 1961 (43 of 1961), or the Wealth-tax Act, 1957 (27 of 1957), or the Gift-tax Act, 1958 (18 of 1958), or a penalty has been imposed on him under clause (iii) of sub-section (1) of section 271 or clause (i) of section 273 of the Income-tax Act, 1961 ...
https://www.slideshare.net/Paritoshc786/wealth-tax-notes
Jan 05, 2018 · Rate of Wealth Tax & Valuation Date T Wealth Tax is levied @1% on net wealth in excess of Rs 30,00,000. No cess or surcharge is levied on Wealth Tax. Valuation date is March 31 immediately preceding the Assessment year. Net wealth means excess of assets over debts Assets includes deemed assets Assets do not includes exempted assets. 4.
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