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Wealth tax

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(Querist)
23 November 2013 Whether deposit in Foreign Bank Taxable under wealth tax ?????????
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
24 November 2013 there was this proposal to include it in the wealth tax...however it doesnt seems to to have been passed.

However, in case it is yet to accepted or acted upon, I must say that it is only a matter of time. Income tax department has already started collecting information through income tax returns by mandating disclosure regarding foreign assets.
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