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<h1>Wealth-tax Act Amended: Section 24 Updates Include New References and Increased Penalties Effective October 1998</h1> The Finance (No. 2) Act, 1998, amends section 24 of the Wealth-tax Act, effective October 1, 1998. The amendments include inserting 'section 23A' after 'section 23' in sub-section (1). In sub-section (2), references to 'a Deputy Commissioner (Appeals) or a Commissioner (Appeals) under section 23' are replaced with 'a Commissioner (Appeals) under sub-section (10) of section 23A.' Sub-section (2A) omits mentions of 'the Deputy Commissioner (Appeals)' entirely. Additionally, in sub-section (4), the penalty amount is increased from 'two hundred rupees' to 'one thousand rupees.'