Applicability of wealth tax for units located in SEZ, Income Tax

[velayutham panchatcharam]

Please clarify with rule or section whether wealth tax is applicable for units located in SEZ

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[Rama Krishana]

The assets which are in the nature of stock in trade or premises which are used for the purpose of business are excluded from the scope of asset u/s 2(ea) of wealth tax act, 1957. Moreover, the provisions of SEZ act also salient on this issue. Means thereby that wealth tax is applicable on every assessee whether situated in SEZ or not.