07 October 2011
As per sec. 2(ea), the following shall be treated as an asset and therefore considered for calculation of the Net Wealth of the assessee on the valuation date:
(A) House; (B) Motor Cars; (C) Jewellery etc.; (D) Yachts, boats and aircrafts; (E) Urban Land; and (F) Cash in hand.
Hence, Loans and advances, debtors, shares, debentures, bonds are not covered
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