https://www.taxtmi.com/circulars?id=4480 Equity shares forming part of an initial issue of equity share capital that opened for subscription before June 1, 1971 continue to qualify for the wealth-tax exemption under clause (xx) of sub-section (1) of section 5 even if subscribed for after that date; issues opened after May 31, 1971 are excluded by the Finance (No. 2) Act, 1971. Shares not covered by clause (xx) may fall within the separate aggregate investment exemption under clause (xxiii) read with sub-section (1A). en-us Sat, 15 Jan 1972 00:00:00 +0530 Wed, 30 Jul 2008 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4480 Equity shares forming part of an initial issue of equity share capital that opened for subscription before June 1, 1971 continue to qualify for the wealth-tax exemption under clause (xx) of sub-section (1) of section 5 even if subscribed for after that date; issues opened after May 31, 1971 are excluded by the Finance (No. 2) Act, 1971. Shares not covered by clause (xx) may fall within the separate aggregate investment exemption under clause (xxiii) read with sub-section (1A). Circulars Income Tax Sat, 15 Jan 1972 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4480