TMI BlogNet wealth to include certain assets.X X X X Extracts X X X X X X X X Extracts X X X X ..... d (whether in the form they were transferred or otherwise), (a) by the spouse of such individual to whom such asset has been transferred by him, directly or indirectly, otherwise than for adequate consideration or in connection with an agreement to live apart; (b) by a minor child, not being a person with disability or person with severe disability, of such individual; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... out of his income referred to in clause (b) of subsection (1) of section 9 and which are held by him on the valuation date. (3) In this section, (a) the asset referred to in clause (b) of sub-section (1) shall be included in the net wealth of (i) the parent who is the guardian of the minor child; or (ii) the parent whose net wealth (excluding the assets r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uilding scheme of the society, company or association, as the case may be; (d) the holder of an impartible estate shall be deemed to be the individual owner of all the properties comprised in the estate; and (e) the value of any assets transferred under an irrevocable transfer shall be liable to be included in computing the net wealth of the transferor in the year in which the power ..... X X X X Extracts X X X X X X X X Extracts X X X X
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