Wealth-tax for Hindu undivided families adjusted with slab rates and exemption threshold under amendment law. The amendment adds item (1A) providing a separate wealth-tax regime for Hindu undivided families with at least one member whose net wealth assessable exceeds the specified threshold, setting a three-slab schedule with graduated rates, a floor below which no tax is payable, and an overall cap limiting tax to a stated percentage of the amount by which net wealth exceeds the exemption floor.
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Provisions expressly mentioned in the judgment/order text.
Wealth-tax for Hindu undivided families adjusted with slab rates and exemption threshold under amendment law.
The amendment adds item (1A) providing a separate wealth-tax regime for Hindu undivided families with at least one member whose net wealth assessable exceeds the specified threshold, setting a three-slab schedule with graduated rates, a floor below which no tax is payable, and an overall cap limiting tax to a stated percentage of the amount by which net wealth exceeds the exemption floor.
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