Additional wealth tax applies where assessed net wealth exceeds declared net wealth, creating separate extra liability and adjustment rules.

A new Chapter IVB charges additional wealth tax where assessed net wealth exceeds returned net wealth; the Assessing Officer orders payment of additional tax on the excess at a fixed statutory rate, with rules for which return constitutes returned net wealth, treatment of non filing, adjustment and refund on subsequent assessment changes, discretionary waiver or reduction by the Commissioner subject to conditions, and search related disclosure rules that limit inclusion of discovered assets in returned net wealth unless recorded or timely disclosed.

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