Wealth tax exemptions: specified charitable trusts, coparcenary interests, ruler assets, returned residents' brought assets, and a dwelling. Exemptions include property held under trust for public charitable or religious purposes (excluding business-related property except as specified), an assessee's interest in HUF coparcenary property, one building and jewellery of a ruler, assets and moneys brought into India by a person of Indian origin or returning citizen (with bank balances in specified non-resident accounts deemed brought in) exempt for a limited number of successive assessment years, and one house or part of a house or a plot of land belonging to an individual or HUF subject to an area-based proviso.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth tax exemptions: specified charitable trusts, coparcenary interests, ruler assets, returned residents' brought assets, and a dwelling.
Exemptions include property held under trust for public charitable or religious purposes (excluding business-related property except as specified), an assessee's interest in HUF coparcenary property, one building and jewellery of a ruler, assets and moneys brought into India by a person of Indian origin or returning citizen (with bank balances in specified non-resident accounts deemed brought in) exempt for a limited number of successive assessment years, and one house or part of a house or a plot of land belonging to an individual or HUF subject to an area-based proviso.
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