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of <h1>Amendment to Wealth-tax Act Section 17A: New Deadlines for Assessments from April 1, 1987, and April 1, 1988.</h1> Section 17A of the Wealth-tax Act, as amended by the Direct Tax Laws (Amendment) Act, 1987, is further amended by the Finance Act, 1989. The amendment replaces the existing proviso in subsection (1) with a new provision. It stipulates that for net wealth first assessable in the assessment year starting April 1, 1987, or earlier, assessments must be completed by March 31, 1991. For net wealth first assessable in the assessment year starting April 1, 1988, assessments must be completed by March 31, 1992.
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