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Wealth tax

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(Querist)
19 August 2008 whether assets bought with the moneys realised from selling assets brought to In dia from foreign are assessable to wealth tax?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
14 October 2008 This is too general a question. An asset which is not exempted under WT Act is taxable, irrespective of how it was acquired.
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