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Home > Forum > Bhubaneswar > Property Tax > What do we mean by wealth tax?

What do we mean by wealth tax?

Q: What is wealth tax and who are suppose to pay this tax?

wealth tax
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A wealth tax is a socialistic tax which is paid only by a wealthy person. According to Section 2(q), a wealthy person is bound to pay wealth tax based on his net wealth on 'valuation date' i.e. every year on 31st March.
Rakesh


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