bullion

Currently, under the provisions of the Wealth Tax Act, 1957 (WT Act), a tax payer, including an individual, a Hindu undivided family (HUF) or a company is liable to pay wealth tax at the rate of 1% on the amount exceeding a net wealth of Rs 30 lakh. Full Article

Investment may be grouped under realty (house property), investment in bank deposits, Post office Small Saving Schemes, investment in Mutual Funds, investment in direct equity and debt securities, gold or bullion. The incomes from speculative nature of business are not included here as they are not investment. Full Article