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Home > Forum > Pune > Property Tax > There is wealth tax too.

There is wealth tax too.

Q: Instead of income tax we have to pay wealth tax. What is the difference between the two? Who is going to pay the wealth tax?

income tax
wealth tax
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As per my knowledge, income tax is payable on income whereas wealth tax is payable on wealth. People who posses wealth exceeding Rs15 lakhs is required to pay tax.
Wasim Mohammad


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