686/CBDT.

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..... being a security listed in the said clauses is also exempt in terms of clause (xxii) of the same section. Exemption of these securities is restricted to Rs.1,50,000 along with several other assets as mentioned in sub section 1 A of section 5. In terms of sub-section 2 of section 5 of W.T.Act, Wealth-tax shall not be payable by an assessee in respect of any security of the Government or of local a .....

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..... of these securities which are in excess of the amount included in the overall exemption of Rs.1,50,000 would enter into computation for determining the Wealth-tax rates applicable. 3. The contents of this letter may please be brought to the notice of all the assessing officers. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - .....

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