Union Budget 2015-16: Govt abolishes wealth tax

Wealth tax is computed on the market value of all the assets you own.

BT Online Bureau   New Delhi     Last Updated: February 28, 2015  | 12:38 IST
FM Arun Jaitley
FM Arun Jaitley

The government has abolished wealth tax in its Budget for 20150-16. Wealth tax is computed on the market value of all the assets you own.

Displaying the government's intent on implementing a new indirect tax regime for India, Finance Minister Arun Jaitley on Saturday announced that the proposed Goods and Services Tax (GST) Bill will be implemented from April next year.

UNION BUDGET 2015-16:Live Blog | Full Coverage

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