"28 September 1993" Archive

Circular No. 663-Income tax dated 28-9-1993

Circular No. 663-Income tax 28/09/1993

Circular No. 663-Income tax Section 2(m ) of the Wealth-tax Act has been amended with effect from 1-4-1993. Under the amended clause (m) in the compu­tation of the net wealth, the assessee is to be allowed deduction only for the debts owed by him on the valuation date which have been incurred in relation to the assets liable to the wealt...

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