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Information about Wealth Tax.
Q: What is wealth tax? Is it to be paid annually or to be paid when one buys jewellery or property?

wealth tax
Latest Answer: It is the tax based on the market value of assets that are owned. It is paid when your income exceeds Rs 15 lakhs.
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What do we mean by wealth tax?
Q: What is wealth tax and who are suppose to pay this tax?

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

wealth tax
Latest Answer: 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).
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