Exemption from wealth tax - Post Office Saving Bank Rules

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... i), (xxiv),(xxv), (xxvi), (xxvii), (xviii) (xxix) not being deposits under the Post Office Savings Bank Rules, 1959 are exempt from wealth-tax upto an aggregate value of Rs.1.50 lakhs. Deposits under the Post Office Savings Bank Rules 1959 are not covered by this limit of Rs.1.5 lakhs. According to the proviso to sub-section (1A), the limit of Rs. 1.50 lakhs will be raised by such amount as the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s referred to in clause (xv) or (xvi) not being deposits under the Post Office Saving Bank(Cumulative Time Deposits) Rules 1959 exceed Rs.1.50 lakhs. Exemption beyond Rs.1.50 lakhs would not be available if the value of such assets does not exceed Rs.1.50 lakhs. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X