Wealth-tax rates revised to a graduated schedule with exemption threshold and a capped maximum liability. Substitution of Part I of Schedule I (effective 1 April 1980) establishes a two-track graduated wealth-tax regime for individuals and HUFs, with ... Summary
Wealth-tax rates revised to a graduated schedule with exemption threshold and a capped maximum liability.
Substitution of Part I of Schedule I (effective 1 April 1980) establishes a two-track graduated wealth-tax regime for individuals and HUFs, with progressively higher marginal rates by net-wealth band, a specified exemption threshold below which no tax is payable, and a statutory cap limiting wealth-tax payable to a stated maximum percentage of the excess over that threshold.
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