|
INTERVIEW QUESTIONS
TAX
WEALTH TAX
DETAILS
Question: What is the difference between Income Tax and Wealth Tax?
Answer: While income tax is payable on the income earned by individuals regularly, wealth tax is payable on the assets bought with the income after paying income tax.
It’s curtains for Wealth Tax!
Wealth tax has been abolished (w.e.f April 1, 2016 for wealth held as on March 31, 2016) by the central government, as announced by the finance minister, in his budget speech, in March, this year. Super rich taxpayers, therefore, need not file their wealth returns for the financial year 2015-16.
|
|
|
Category |
Wealth Tax Interview Questions & Answers -
Exam Mode /
Learning Mode
|
Rating |
(0.2) By 7675 users |
Added on |
8/23/2016 |
Views |
67253 |
Rate it! |
|
|
Question:
What is the difference between Income Tax and Wealth Tax?
Answer:
While income tax is payable on the income earned by individuals regularly, wealth tax is payable on the assets bought with the income after paying income tax.
It’s curtains for Wealth Tax!
Wealth tax has been abolished (w.e.f April 1, 2016 for wealth held as on March 31, 2016) by the central government, as announced by the finance minister, in his budget speech, in March, this year. Super rich taxpayers, therefore, need not file their wealth returns for the financial year 2015-16. Source: CoolInterview.com
If you have the better answer, then send it to us. We will display your answer after the approval.
Rules to Post Answers in CoolInterview.com:-
- There should not be any Spelling Mistakes.
- There should not be any Gramatical Errors.
- Answers must not contain any bad words.
- Answers should not be the repeat of same answer, already approved.
- Answer should be complete in itself.
|
Please Note: We keep on updating better answers to this site. In case you are looking for Jobs, Pls Click Here Vyoms.com - Best Freshers & Experienced Jobs Website.
View All Wealth Tax Interview Questions & Answers - Exam Mode /
Learning Mode
|