https://www.taxtmi.com/acts?id=6476 Revival of wealth-tax for closely held companies imposes a charge under the Wealth-tax Act on companies not substantially held by the public, defining net wealth as the excess of specified assets over debts secured on or incurred in relation to those assets, valuing assets at the higher of Schedule III valuation or balance-sheet value, and excluding stock-in-trade and certain motor-cars, while enabling government exemptions by notification and requiring conformity adjustments to the Wealth-tax Act. en-us Sat, 19 Jan 2008 22:45:54 +0530 Fri, 14 Sep 2012 13:18:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=6476 Revival of wealth-tax for closely held companies imposes a charge under the Wealth-tax Act on companies not substantially held by the public, defining net wealth as the excess of specified assets over debts secured on or incurred in relation to those assets, valuing assets at the higher of Schedule III valuation or balance-sheet value, and excluding stock-in-trade and certain motor-cars, while enabling government exemptions by notification and requiring conformity adjustments to the Wealth-tax Act. Act-Rules Wealth-tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=6476