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Showing posts with label Wealth Tax. Show all posts
Showing posts with label Wealth Tax. Show all posts
Sunday, December 15, 2013
What is HUF - Hindu Undivided Family
Wednesday, March 6, 2013
What is Wealth Tax in India
Background
Most people believe that paying their taxes diligently and timely will help them to get a good night's sleep and so, they discharge their tax liability year after year by paying income tax on time. However, many taxpayers remain ignorant about paying another form of tax -- which is charged on the assets gathered by them over time. Known as the wealth tax, it is the less famous sibling of income tax, which is payable on the wealth accumulated by individuals over the years. As it is an additional tax, it is levied over and above the income tax.
Most people believe that paying their taxes diligently and timely will help them to get a good night's sleep and so, they discharge their tax liability year after year by paying income tax on time. However, many taxpayers remain ignorant about paying another form of tax -- which is charged on the assets gathered by them over time. Known as the wealth tax, it is the less famous sibling of income tax, which is payable on the wealth accumulated by individuals over the years. As it is an additional tax, it is levied over and above the income tax.
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