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TypeBare Act JurisdictionCentral Government

Finance Act, 1992 Section 90

Amendment of Section 3

~1 min read
https://sooperkanoon.com/act/440821

Bare act section · Research

About this section

Finance Act, 1992 Section 90 is part of Finance Act, 1992 - Amendment of Section 3. Read the section text below and explore Indian court judgments that cite it.

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Section Text

Section 3 of the Wealth-tax Act shall be renumbered as sub-section (1) thereof and, with effect from the 1st day of April, 1993, -

(a) in sub-section (1) as so renumbered, after the words and figures "first day of April, 1957", the words and figures "but before the first day of April, 1993" shall be inserted;

(b) after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely :-

"(2) Subject to the other provisions contained in this Act, there shall be charged for every assessment year commencing on and from the 1st day of April, 1993, wealth-tax in respect of the net wealth on the corresponding valuation date of every individual, Hindu undivided family and company, at the rate of one per cent. of the amount by which the net wealth exceeds fifteen lakh rupees.".

Frequently asked questions

What does Finance Act, 1992 Section 90 provide?

Section Section 90 of the Finance Act, 1992 (Amendment of Section 3) is reproduced on this page as part of the Finance Act, 1992. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 1992 Section 90?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1992 Section 90. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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