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        F. Acts / Amendment Acts

        Section 50 - Amendment of Section 45

        Finance Act, 1972
        WEALTH-TAX

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        Exemption of cooperative societies: amendment replaces wording to state no tax shall be levied under the Act on net wealth. Amendment revises Section 45 to state that no tax shall be levied under this Act in respect of the net wealth of specified persons, and inserts (deemed always to have been inserted) a clause exempting any co-operative society from wealth-tax liability on its net wealth.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Exemption of cooperative societies: amendment replaces wording to state no tax shall be levied under the Act on net wealth.

                                Amendment revises Section 45 to state that no tax shall be levied under this Act in respect of the net wealth of specified persons, and inserts (deemed always to have been inserted) a clause exempting any co-operative society from wealth-tax liability on its net wealth.


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