Exemption u/s. 5(1)(xxxiii) of W.T. Act-Deposits from non-resident Indians

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Full Text of the Document

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....ing to the credit in a Non-resident (External) Account belonging to a person resident outside India within the meaning of section 2(q) of the Foreign Exchange Regulation Act, 1973. Section 5(1)(xxxiii) of the Wealth-tax Act provides that in the case of an assessee, being a person of Indian origin or a citizen of India who was ordinarily residing in a foreign country and who has returned to India w....