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Home > Forum > Kolkata > Property Tax > What is wealth tax?

What is wealth tax?

Q: I want to know about wealth tax and by whom it is paid?

wealth tax
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A wealth tax is not considered as a high revenue tax. It is a socialistic tax which is paid by a person who is wealthy. A wealthy person is suppose to pay wealth tax based on his net wealth on 'valuation date' i.e every year on 31st March according to Section 2(q).
Joseph Sebastian


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