https://www.taxtmi.com/article/detailed?id=996 Net wealth is the aggregate value on the valuation date of all specified assets belonging to the person, less debts incurred in relation to those assets. Specified assets include immovable property (with enumerated exclusions), certain movable luxury items, jewellery, artistic collections, excess cash and specified foreign interests. Assets transferred without adequate consideration to spouses, minor children, revocable transfers, trusts or other persons where control or revocability exists are deemed to belong to the transferor and included in computing net wealth. en-us Mon, 25 Oct 2010 00:00:00 +0530 Mon, 25 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=996 Net wealth is the aggregate value on the valuation date of all specified assets belonging to the person, less debts incurred in relation to those assets. Specified assets include immovable property (with enumerated exclusions), certain movable luxury items, jewellery, artistic collections, excess cash and specified foreign interests. Assets transferred without adequate consideration to spouses, minor children, revocable transfers, trusts or other persons where control or revocability exists are deemed to belong to the transferor and included in computing net wealth. Articles Income Tax Mon, 25 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/article/detailed?id=996