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

.....the value of such gift shall be liable to beincluded in computing the net wealth of the person making the gift unless heproves to the satisfaction of the 23 [Assessing Officer] that themoney has actually been delivered to the other person at the time the entrieswere made.] 24 [(6) For the purposes of this Act, theholder of an impartible estate shall be deemed to be the individual owner of allthe properties comprised in the estate.] 25 [(7) Where the assessee is amember of a co-operative society,company or other association of persons and a building or part thereof isallotted or leased tohim under a house building scheme of the society, company or association,as the case may be, the assessee shall, notwithstanding anything contained inthis Act or any other law for the time being in force, be deemed to be the ownerof such building or part and the value of such building or part shall beincluded in computing the net wealth of the assessee; and, in determining thevalue of such building or part, the value of any outstanding instalments of theamount payable under such scheme by the assessee to the society, company orassociation towards the cost of such building or part and.....

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

.....the value of such gift shall be liable to be included in computing the net wealth of the person making the gift unless he proves to the satisfaction of the89[Assessing Officer] that the money has actually been delivered to the other person at the time the entries were made.] 84 [(6) For the purposes of this Act, the holder of an impartible estate shall be deemed to be the individual owner of all the properties comprised in the estate.] 85 [(7) Where the assessee is a member of a co-operative society, company or other association of persons and a building or part thereof is allotted or leased to him under a house building scheme of the society , company or association, as the case may be, the assessee shall, notwithstanding anything contained in this Act or any other law for the time being in force, be deemed to be the owner of such building or part and the value of such building or part, shall be included in computing the net wealth of the assessee; and, in determining the value of such building or part, the value of any outstanding instalments of the amount payable under such scheme by the assessee to the society, company or association towards the cost of such building.....

Estate Duty Act, 1953 Complete Act

State: Central

Year: 1953

.....apply to- (a) gifts made in consideration of marriage, subject to a maximum of rupees then thousand in value; (b) gifts which are proved to the satisfaction of the Conroller to have been part of the normal expenditure of the deceased, subject to a maximum of rupees ten thousand in value.] SECTION 10: Gifts whenever made where donor not entirely excluded: Property taken under any gift, whenever made, shall be deemed to pass on the donor's death to the extent that bona fide possession and enjoyment of it was not immediately assumed by the donee and thence- forward retained to the entire exclusion of the donor or of any benefit to him by contract or otherwise: Provided that the property shall not be deemed to pass by reason only that it was not, as from the date of the gift, exclusively retained as aforesaid, if, by means of the surrender of the reserved benefit or otherwise, it is subsequently enjoyed the entire exclusion of the donor or of any benefit of him for at least [two years] before the death. [Provided further that a house or part thereof taken under any gift made to the spouse, son, daughter, brother or sister, shall not be deemed to pass on the donor's death by.....