TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Wealth-tax Act 1957 Amendment: Exemption Limit Doubled, New Deposit Schemes Included, Trust Property Taxation Revised.</h1> The amendment to the Wealth-tax Act, 1957, effective April 1, 1985, revises several provisions. In section 5, the exemption limit is increased from one hundred thousand to two hundred thousand rupees, and new clauses are added to include deposits under a National Deposit Scheme and with the Industrial Development Bank of India. Section 21A is modified to address the use of trust property and income, specifying conditions under which wealth-tax is levied on trustees. The amendment also defines 'maximum marginal rate' and adjusts provisions for associations and institutions under specific clauses of the Income-tax Act.
TaxTMI 
