686/CBDT.

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..... in the said clauses is also exempt in terms of clause (xxii) of the same section. Exemption of these securities is restricted to Rs.1,50,000 along with several other assets as mentioned in sub section 1 A of section 5. In terms of sub-section 2 of section 5 of W.T.Act, Wealth-tax shall not be payable by an assessee in respect of any security of the Government or of local authorities not specified .....

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