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TypeBare Act JurisdictionCentral Government

Finance Act, 1992 Section 95

Amendment of Section 21a

~1 min read
https://sooperkanoon.com/act/440826

Bare act section · Research

About this section

Finance Act, 1992 Section 95 is part of Finance Act, 1992 - Amendment of Section 21a. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 21A of the Wealth-tax Act, with effect from the 1st day of April, 1993, -

(a) for the words, brackets and figures "Notwithstanding anything contained in clause (i) of sub-section (1) of section 5, where any property is held", the words "Where any property is held" shall be substituted;

(b) the words, brackets and figures "but without excluding the value of any asset under sub-section (1) of section 5, and at the maximum marginal rate" shall be omitted;

(c) the second proviso shall be omitted;

(d) in the third proviso, -

(i) for the words "Provided also that", the words "Provided further that" shall be substituted;

(ii) in item (2), for the words and figures "Part I of Schedule I in the case of an individual", the words, brackets and figures "sub-section (2) of section 3" shall be substituted;

(e) in the Explanation, clause (aa) shall be omitted.

Frequently asked questions

What does Finance Act, 1992 Section 95 provide?

Section Section 95 of the Finance Act, 1992 (Amendment of Section 21a) 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 95?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1992 Section 95. 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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