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of <h1>Understanding Net Wealth Calculation: Asset Valuation, Debt Deductions, and Exclusions Under Specific Rules</h1> The net wealth of a person is calculated by subtracting the total value of debts related to assets from the total value of all assets owned on the valuation date. Certain assets are excluded from this calculation, including properties held under trust for welfare activities, interests in Hindu undivided family property, specific buildings and jewelry associated with Rulers, assets located outside India for non-citizens or non-residents, and specific properties acquired before April 1, 2000. The value of non-cash assets is determined in a prescribed manner.
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