Section 5(1)(xxvb) of the Wealth-tax Act, 1957-Whether exemption of the deposits made under the National Savings Scheme, 1987, from wealth-tax contained in clause (xxvb) of sub-section (1) of section 5 of the Wealth-tax Act is not subject to the limit of Rs. 5 lakhs specified in sub-section (1A) of

Section 5(1)(xxvb) of the Wealth-tax Act, 1957-Whether exemption of the deposits made under the National Savings Scheme, 1987, from wealth-tax contained in clause (xxvb) of sub-section (1) of section 5 of the Wealth-tax Act is not subject to the limit of Rs. 5 lakhs specified in sub-section (1A) of https://www.taxtmi.com/circulars?id=4917 The exemption of deposits under the National Savings Scheme, 1987 from wealth-tax is not subject to the aggregate monetary limit in section 5; deposits under the Scheme are exempt from wealth-tax without any limits, and the explanatory language of the earlier circular is accordingly modified. en-us Tue, 10 May 1988 00:00:00 +0530 Mon, 04 Aug 2008 17:53:00 +0530 TaxTMI RSS Generator Section 5(1)(xxvb) of the Wealth-tax Act, 1957-Whether exemption of the deposits made under the National Savings Scheme, 1987, from wealth-tax contained in clause (xxvb) of sub-section (1) of section 5 of the Wealth-tax Act is not subject to the limit of Rs. 5 lakhs specified in sub-section (1A) of https://www.taxtmi.com/circulars?id=4917 The exemption of deposits under the National Savings Scheme, 1987 from wealth-tax is not subject to the aggregate monetary limit in section 5; deposits under the Scheme are exempt from wealth-tax without any limits, and the explanatory language of the earlier circular is accordingly modified. Circulars Income Tax Tue, 10 May 1988 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4917