Wealth-tax rate adjustment reduces prescribed rates for specified sub-sections and revises levy computation under the statute. Amendments to Section 34A of the Wealth-tax Act, effective 1 June 2001, substitute the rate in sub section (3) from fifteen per cent to nine per cent and substitute the rate in sub section (4B)(a) from one per cent to three-fourth per cent, thereby altering the percentage figures used for computation under those clauses.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth-tax rate adjustment reduces prescribed rates for specified sub-sections and revises levy computation under the statute.
Amendments to Section 34A of the Wealth-tax Act, effective 1 June 2001, substitute the rate in sub section (3) from fifteen per cent to nine per cent and substitute the rate in sub section (4B)(a) from one per cent to three-fourth per cent, thereby altering the percentage figures used for computation under those clauses.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.