https://www.taxtmi.com/acts?id=37963 Rule 5 limits excluded assets under sub section (14) of section 79 by capping the value of unencumbered personal ornaments and by setting monetary ceilings for an unencumbered single dwelling unit owned by the debtor, with distinct valuation limits for urban and rural dwellings. The rule further defines "rural area" by reference to the National Rural Employment Guarantee Act and treats any other area as "urban" to determine which ceiling applies. en-us Sat, 16 Nov 2019 13:14:53 +0530 Sat, 16 Nov 2019 13:14:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=37963 Rule 5 limits excluded assets under sub section (14) of section 79 by capping the value of unencumbered personal ornaments and by setting monetary ceilings for an unencumbered single dwelling unit owned by the debtor, with distinct valuation limits for urban and rural dwellings. The rule further defines "rural area" by reference to the National Rural Employment Guarantee Act and treats any other area as "urban" to determine which ceiling applies. Act-Rules IBC Sat, 16 Nov 2019 13:14:53 +0530 https://www.taxtmi.com/acts?id=37963