Exemption from wealth tax - Post Office Saving Bank Rules

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..... (xxvii), (xviii) & (xxix) not being deposits under the Post Office Savings Bank Rules, 1959 are exempt from wealth-tax upto an aggregate value of Rs.1.50 lakhs. Deposits under the Post Office Savings Bank Rules 1959 are not covered by this limit of Rs.1.5 lakhs. According to the proviso to sub-section (1A), the limit of Rs. 1.50 lakhs will be raised by such amount as the value of assets referred .....

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