Economy, asked by pandu1994, 1 year ago

Define wealth tax. Explain deductions under wealth tax act​

Answers

Answered by cjcriss
1

Answer:

Explanation:

Resident Indians pay wealth tax on global assets while non-residents pay on domestic assets. More. In India, Wealth Tax is the tax required to be paid by anyone whose personal assets exceed Rs 30 lakh. It is a form of Direct Tax and is levied under the provisions of the Wealth Tax Act, 1957.✔✔

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