Applicability of wealth tax for units located in SEZ

[velayutham panchatcharam]

Please clarify with rule or section whether wealth tax is applicable for units located in SEZ

AI Summary

Wealth Tax Applies to SEZ Units; Assets as Stock or Business Premises Excluded Under Section 2(ea) of Wealth Tax Act. A query was raised regarding the applicability of wealth tax for units in Special Economic Zones (SEZ). The response clarified that assets considered as stock in trade or business premises are excluded from the definition of assets under section 2(ea) of the Wealth Tax Act, 1957. However, the SEZ Act does not specifically address this issue, implying that wealth tax applies to all assessees, regardless of their location in or outside an SEZ.