Computation of net wealth

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..... f sub-section (3); B = the aggregate of the value on the valuation date, of all the debts, owed by the person, which have been incurred in relation to the said assets. (2) The assets referred to in sub-section (1) shall not include the following:- (a) any property held by the person under trust, or other legal obligation, for carrying out any permitted welfare activity in India; (b) the interest o .....

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..... f the assets located outside India if, during the financial year ending on the valuation date, the person is,- (i) an individual who is not a citizen of India; or (ii) an individual or a Hindu undivided family not resident in India; and (f) any one house or part of a house or a plot of land belonging to an individual or a Hindu undivided family which is acquired or constructed before the 1st day o .....

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