Wealth-tax rate amendment reduces the prescribed tax rate under the specified provision and proviso, altering taxpayer liabilities. Amendment revises sub section (2) of section 31 of the Wealth tax Act by substituting the words "one and one fourth per cent" in place of "one and one ... Summary
Wealth-tax rate amendment reduces the prescribed tax rate under the specified provision and proviso, altering taxpayer liabilities.
Amendment revises sub section (2) of section 31 of the Wealth tax Act by substituting the words "one and one fourth per cent" in place of "one and one half per cent" in both the sub section and its second proviso, effective from the stated commencement date.
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