What is wealth tax? What is the percentage of the wealth tax to be paid on new purchased property ?
I dont have that much of information but i am submitting my wealth return for last many years. In the wealth return, you have to show, how much you have property and then from where u got this money. If you have undeclared 4 cror and u buy a plot, offcourse u have to show, from where u got this money and tax department can ask these questions. U can show this 4 cror as personal income and then pay tax as per personal income tax or business tax.
U can check this with a Chartered accountant or a tax consultant who is active in such advises.