Estate duty rates revised with expanded disclosure powers and residential exemption adjustments under amended law. The Act amends the Estate Duty Act to: include one residence used exclusively by the deceased as an exempt item subject to a principal-value limitation varying by location; substitute section 80 to allow the Controller to furnish assessment information in the public interest with finality; add section 80A permitting the Central Government to publish names and particulars of accountable persons and proceedings subject to appeal-related limits; and replace Second Schedule Part I with a tiered estate duty rate structure across successive bands of the estate's principal value.
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Estate duty rates revised with expanded disclosure powers and residential exemption adjustments under amended law.
The Act amends the Estate Duty Act to: include one residence used exclusively by the deceased as an exempt item subject to a principal-value limitation varying by location; substitute section 80 to allow the Controller to furnish assessment information in the public interest with finality; add section 80A permitting the Central Government to publish names and particulars of accountable persons and proceedings subject to appeal-related limits; and replace Second Schedule Part I with a tiered estate duty rate structure across successive bands of the estate's principal value.
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