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    <title>Persons Liable to pay Wealth Tax</title>
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    <description>Persons liable to wealth tax include Individuals, Hindu Undivided Families, Companies and Trusts treated as individuals. Exempt entities include companies registered under section twenty five of the Companies Act, co operative societies, social clubs, political parties, specified mutual funds, and partnership firms or associations of persons; however, an assessee&#039;s share in a partnership firm or AOP is included in computing the assessee&#039;s net wealth.</description>
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