AUBSP Description

Definition of Deemed Assets under Wealth Tax Act

In computing the Net Wealth of the assessee, the value of certain assets held by other person shall be included.

In computing the Net Wealth of the assessee, the value of certain assets held by other person shall be included. These assets are commonly known as Deemed Assets. As per section 4 of Wealth Tax Act, 1957, the following assets shall be treated as Deemed assets:











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