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of <h1>Wealth Tax Rules 1957: Rule 2F Omitted in 1989, Impacting Disclosure of Undisclosed Business Liabilities in Balance Sheets.</h1> Rule 2F of the Wealth Tax Rules, 1957, which addressed liabilities not disclosed in the balance sheet, was omitted by the Wealth-tax (Second Amendment) Rules, 1989, effective from April 1, 1989. Prior to its omission, Rule 2F allowed debts related to the business, which were not disclosed in the balance sheet, to be deducted for the purposes of Rule 2A, except for contingent liabilities, which were not considered debts owed.
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