https://www.taxtmi.com/acts?id=10880 Computation of net wealth follows the formula A-B where A is the aggregate value on the valuation date of all assets belonging to the person determined in the prescribed manner and B is the aggregate value on the valuation date of debts owed by the person incurred in relation to those assets. Specific exclusions from assets include property held for permitted welfare trusts, coparcenary interests, certain historic rulers' residences and heirloom jewellery, overseas assets for non-citizen or non-resident persons, and one pre-2000 house or plot for an individual or HUF. en-us Thu, 20 Aug 2009 12:47:50 +0530 Thu, 20 Aug 2009 16:30:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10880 Computation of net wealth follows the formula A-B where A is the aggregate value on the valuation date of all assets belonging to the person determined in the prescribed manner and B is the aggregate value on the valuation date of debts owed by the person incurred in relation to those assets. Specific exclusions from assets include property held for permitted welfare trusts, coparcenary interests, certain historic rulers' residences and heirloom jewellery, overseas assets for non-citizen or non-resident persons, and one pre-2000 house or plot for an individual or HUF. Act-Rules Bills Thu, 20 Aug 2009 12:47:50 +0530 https://www.taxtmi.com/acts?id=10880