Computation of net wealth

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..... son, computed in accordance with the provisions of sub-section (3); B = the aggregate of the value on the valuation date, of all the debts, owed by the person, which have been incurred in relation to the said assets. (2) The assets referred to in sub-section (1) shall not include the following:- (a) any property held by the person under trust, or other legal oblig .....

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..... (ii) by the Board at the time of his first assessment to wealth-tax under the Wealth-tax Act, 1957; (e) the value of the assets located outside India if, during the financial year ending on the valuation date, the person is,- (i) an individual who is not a citizen of India; or (ii) an individual or a Hindu undivided family not resident in India; and (f) .....

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