Wealth Tax Act - Law Dictionary Search Results

Debt owed, a debt owed within the meaning of s. 2(m) of the Wealth-tax Act can be defined as a liability to pay in praesenti or in futuro an ascertainable sum of money, … 1981 SC 1562: (1981) 3 SCR 402. A 'debt owed' within the meaning of, s. 2(m) of the Wealth-tax Act can be defined as a liability to pay in praesenti or in futuro an ascertainable sum of money',

Assessee

assessee. Income Tax Officer v. Delhi Development Authority (2002) 1 SCC 695: AIR 2002 SC 264 (267). [Income Tax Act (43 of 1961) s. 2 (7)] Means a person by whom wealth-tax or any other sum of money

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Or any tax of a similar character chargeable under any law

Matched in: Term Or any tax of a similar character chargeable under any law

Annuity

charge personally on the grantor, CWT v. Arundhati Balkrishna, (1970) 1 SCC 561 (565): AIR 1971 SC 915. [Wealth Tax Act, 1957, s. 2(e)(iv)] An annuity is a fixed sum payable annually either in perpetuity or for any less … charged for such payment, CWT v. P. K. Banerjee, (1981) 1 SCC 63 (75): AIR 1981 SC 401. [Wealth-Tax Act, 1957, s. 2(e)(1)(iv)] It is a right to receive a specified sum and not an aliquot share in

Assessing Officer

(2) of s. 120 or any other provision of the Income-tax Act which apply for the purposes of wealth-tax under s. 8 of this Act and also the Joint Commissioner who is directed under clause (b) of

Issued and served

'served', Commissioner of Wealth Tax v. Kundan Lal Behari Lal, AIR 1976 SC 1150: (1975) 4 SCC 844 [Wealth Tax Act, 1957, s. 18 (2A)]

Company

2 (9)] Company, shall have the meaning assigned to it in clause (17) of s. 2 of the Income-tax Act. [Wealth-tax Act, 1957 (27 of 1957), s. 2 (h)] The expression 'company' as defined in the Land Acquisition

Maximum marginal rate

Maximum marginal rate, means the rate of wealth-tax applicable in relation to the highest slab of wealth in the case of an individual as specified in … slab of wealth in the case of an individual as specified in part I of Schedule I. [Wealth-tax Act, 1957 (27 of 1957), s. 2 (lc)]

Executor

s. 2 (c)] (11) It means an executor or administrator of the estate of a deceased person. [The Wealth-tax Act, 1957, s. 2 (i)] Executor means a person to whom the execution of the last will of

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