https://www.taxtmi.com/news?id=1164 Wealth tax is proposed on net wealth of individuals, HUFs and private discretionary trusts as assessed on the valuation date; net wealth equals assets chargeable to wealth tax (including financial and deemed assets) less debts and after exempted assets such as stock in trade and a single residential property. Specified unproductive assets will be subject to the tax, productive assets are proposed to be exempt, and the levy will apply to all taxpayers except non profit organisations, with threshold and rate to be calibrated within overall tax policy. en-us Tue, 15 Jun 2010 22:39:15 +0530 Tue, 15 Jun 2010 22:39:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=1164 Wealth tax is proposed on net wealth of individuals, HUFs and private discretionary trusts as assessed on the valuation date; net wealth equals assets chargeable to wealth tax (including financial and deemed assets) less debts and after exempted assets such as stock in trade and a single residential property. Specified unproductive assets will be subject to the tax, productive assets are proposed to be exempt, and the levy will apply to all taxpayers except non profit organisations, with threshold and rate to be calibrated within overall tax policy. News - Tue, 15 Jun 2010 22:39:15 +0530 https://www.taxtmi.com/news?id=1164