Section 2(5)(m) in The Wealth-Tax Act, 1957

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Union of India - Subsection

Section 2(5)(m) in The Wealth-Tax Act, 1957

(m)"net wealth" means the amount by which the aggregate value computed in accordance with the provisions of this Act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date under this Act, is in excess of the aggregate value of all the debts owed by the assessee [on the valuation date which have been incurred in relation to the said assets;] [ Substituted by Act 18 of 1992, Section 89, for certain words (w.e.f. 1.4.1993).]

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Union of India - Subsection

Section 2(5)(m) in The Wealth-Tax Act, 1957