Bare Act Search Results

Wealth-tax Act, 1957 Chapter II

Title: Charge of Wealth-tax and Assets Subject to Such Charge

State: Central

Year: 1957

.....Act 18 of 1992, Section 90 w.e.f. 1-4-1993. 2. Substituted by Act 4 of 1988, Section 129, for "subject to the other provisions contained in this Act" w.e.f. 1-4-1989. 3. Substituted by Act 46 of 1964, Section 3, for "Financial year" w.e.f. 1-4-1965. 4. Inserted by Act 18 of 1992, Section 90 (a) w.e.f. 1-4-1993. 5. Substituted by Act 66 of 1976, Section 27(!), for "at the rate or rates specified in the schedule" w.e.f. 1-4-1977. 6. Inserted by Act 18 of 1992, Section 90(b) w.e.f. 1-4-1993. 7. Inserted by the Finance (No. 2) Act, 2009 w.e.f. 1st April, 2010. Section 4 - Net wealth to include certain assets (1) 1 [In computing the netwealth- (a)ofan individual, there shall be included, as belonging to that individual, thevalue of assets which on the valuation date are held -] 2 [(i)by the spouse of such individual to whom such assets have been transferred bythe individual, directly or indirectly, otherwise than for adequateconsideration or in connectionwith an agreement to live apart, or (ii)by a minor child, not being3 [a minor child suffering from anydisability of the nature specified in section 80U of the Income-tax Act or] a married.....

Wealth-tax Act, 1957 Section 5

Title: Exemptions in Respect of Certain Assets

State: Central

Year: 1957

.....(1A)" omitted by Act 18 of 1992, Section 92(a)(i) w.e.f. 1-4-1993. 3. Added by Act 32 of 1985, Section 37(a)(i) w.e.f. 1-4-1986 and substituted by Act 4 of 1988, Section 160(1) w.e.f. 1-4-1998 and the substituted proviso omitted by Act 3 of 1989, Section 95(r) w.e.f. 1-4-1989. 4. The words "clause (22) or clause (22A) or" omitted by Act 21 of 1998, Section 68(A) w.e.f. 1-4-1999. 5. Substituted by Act 54 of 1972, Section 5 (a) w.e.f. 9-9-1972. 6. Clauses (iv) to (xiii) omitted by Act 18 of 1992, Section 92(a)(ii) w.e.f. 1-4-1993. 7.Inserted by Act 54 of 1972, Section 5(b) w.e.f. 9-9-1972. 8.Clauses (xv) to (xxxii)omitted by Act 18 of 1992, Section 92(a)(ii) w.e.f. 1-4-1993. 9.Inserted by Act 66 of 1976,Section 27(2)(e) w.e.f. 1-4-1977. 10.Clause (xxxiiii) re-numbered as clause (v) by Act 18 of 1992, Section92(a)(ii) w.e.f. 1-4-1993. 11.Inserted by Act 67 of 1984, Section 54(A)(ii) w.e.f. 1-4-1977. 12.Inserted by Act 23 of 1986, Section 40(a)(ii)(A) w.e.f. 1-4-1987. 13.Explanation re-numbered as Explanation 1 by Act 23 of 1986, Section40(a)(ii)(B) w.e..f 1-4-1977. 14.Inserted by Act 23 of 1986, Section 40(a)(ii)(B)( w.e.f. 1-4-1977. 15.Clause (xxxiv).....

Wealth Tax Act, 1957 Complete Act

State: Central

Year: 1957

WEALTH TAX ACT, 1957 WEALTH TAX ACT, 1957 27 of 1957 An Act to provide for the levy of wealth-tax BE it enacted by Parliament in the Eighth Year of the Republic of India as follows:- SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Wealth-tax Act, 1957. (2) It extends to the whole of India. (3) It shall be deemed to have come into force on the 1st day of April, 1957. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires,- (a)2[***] 3[(b) "Appellate Tribunal" means the Appellate Tribunal constituted under section 252 of the Income-tax Act; (c) "assessee" means a person by whom wealth-tax or any other sum of money is payable under this Act, and includes- (i) every person in respect of whom any proceeding under this Act has been taken for the determination of wealth-tax payable by him or by any other person or the amount of refund due to him or such other person : (ii) every person who is deemed to be an assessee under this Act ; (iii) every person who is deemed to be an assessee in default under this Act; 4[(ca) "Assessing Officer " means the Deputy Commissioner of Income-tax or the Assistant Commissioner or the.....

Estate Duty Act, 1953 Complete Act

State: Central

Year: 1953

.....in the Wealth-tax Act and the rules made thereunder. 4. Another amendment seeks to make a provision similar to that contained in Income-tax Act, 1961 and Wealth-tax Act, 1957, to secure that where the deceased was a member of a co-operative housing Society the value of one house or part thereof allotted or leased to him under a house-building scheme of the society would be treated as a house owned by the deceased, thus qualifying for the concessional treatment accorded to residential house property. 5. The other amendments proposed in the Bill are of a consequential nature. 6. The amendments are being made with retrospective effect from the 1st day of March, 1981 and accordingly the proposed concessions will also be available in relation to estate duty in the case of persons who have died after the 28th February, 1981. 7. The Bill seeks to achieve the above objects. -Gaz. of Ind., 13-7-82, Pt. II, S. 2,Ext" p. 8 (No. 28) Act 53 of 1984 This Bill seeks to amend the Estate Duty Act, 1953, mainly with a view to excluding agricultural lands from the levy of estate duty. 2. One of the amendments proposed accordingly seeks to provide that the Act shall cease to apply to the.....