1) Whether an assessee being a NRI having deposited money's in NRO A\c attracts wealth tax or not..? 1) NRI having deposits a\c in India and earning interest thereon whether liable to pay wealth tax or not..?
10 August 2011
1. NRO A/c balance is not covered under the definition of assets provided under sec 2(ea) of Wealth Tax Act. 2. Deposit accounts in India are not covered under the definition of assets provided under sec 2(ea) of Wealth Tax Act.
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