Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram

TMI Blog

Home

Net wealth to include certain assets

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... transferred or otherwise) - (i) by the spouse of such individual to whom such asset has been transferred by the individual, directly or indirectly, otherwise than for adequate consideration or in connection with an agreement to live apart; (ii) by a minor child, not being a not being a person with disability or person with severe disability, of such individual; (iii) .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... respect of such asset as has been acquired by the minor child out of his income referred to in sub-clause (i) and (ii) of clause (b) of sub-section (1) of section 8 and which are held by him on the valuation date. (3) For the purposes of this section,- (a) the asset referred to in sub-clause (ii) or sub-clause (iii) of clause (a) of subsection (1) shall be included in the net wealth of - .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... building or part thereof, if he is a member of a co-operative society, company or other association of persons and the building or part thereof is allotted or leased to him under a house building scheme of the society, company or association, as the case may be; and (d) the holder of an impartible estate shall be deemed to be the individual owner of all the properties comprised in the esta .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

Quick Updates:Latest Updates