Wealth-tax exemption available for units under the Wealth-tax Act, 1957, and the Unit Trust of India Act, 1963--Clarification regarding

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.... 22/1/1982 To             All  Commissioners of Wealth-tax. Sir,             Subject:  Wealth-tax exemption available for units under the Wealth-tax Act, 1957, and the Unit Trust of India Act, 1963--Clarification regarding. A doubt has been raised in certain q....

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....ontained in the Wealth-tax Act, 1957, wealth-tax will not be payable by an assessee, being an individual or a Hindu undivided family who is resident in India, in respect of, and there shall not be included in the net wealth of the assessee, Units of the value not exceeding twentyfive thousand rupees. Thus, the exemption under the aforesaid provision is not subject to the limitation and restriction....