https://www.taxtmi.com/acts?id=49335 Exemption from wealth-tax applies to assets representing voluntarily disclosed income-cash, bank deposits, bullion, shares, debts, commodities or other declared assets-so that assets not shown or for which no return was filed are excluded from net wealth, understatement adjustments are disregarded to the extent of disclosed income used to acquire them, jewellery/bullion are valued at a specified market date for earlier years, and firm-level declarations do not affect partners' net wealth; application of these exemptions is subject to meeting the scheme's eligibility conditions. en-us Tue, 18 Feb 2025 16:55:58 +0530 Tue, 18 Feb 2025 16:55:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49335 Exemption from wealth-tax applies to assets representing voluntarily disclosed income-cash, bank deposits, bullion, shares, debts, commodities or other declared assets-so that assets not shown or for which no return was filed are excluded from net wealth, understatement adjustments are disregarded to the extent of disclosed income used to acquire them, jewellery/bullion are valued at a specified market date for earlier years, and firm-level declarations do not affect partners' net wealth; application of these exemptions is subject to meeting the scheme's eligibility conditions. Act-Rules F. Acts / Amendment Acts Tue, 18 Feb 2025 16:55:58 +0530 https://www.taxtmi.com/acts?id=49335