Wealth tax section 5 amendment narrows taxable property scope and raises the applicable monetary threshold. Amendment of section 5 revises clause (i) to exclude certain business property and removes the proviso to clause (iv); sub-section (1A) adds an additional clause reference, raises the applicable monetary threshold, omits the previously inserted second proviso and rewords the subsequent proviso; sub-section (3) deletes a specified bracketed clause reference.
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Wealth tax section 5 amendment narrows taxable property scope and raises the applicable monetary threshold.
Amendment of section 5 revises clause (i) to exclude certain business property and removes the proviso to clause (iv); sub-section (1A) adds an additional clause reference, raises the applicable monetary threshold, omits the previously inserted second proviso and rewords the subsequent proviso; sub-section (3) deletes a specified bracketed clause reference.
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