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of <h1>Indian Parliament Amends Income-tax and Wealth Tax Laws with 1962 Taxation Laws Act</h1> The Taxation Laws (Amendment) Act, 1962, No. 54 of 1962, was enacted by the Indian Parliament to amend the Income-tax Act, 1961, and the Wealth Tax Act, 1957. It received presidential assent on December 13, 1962, and was published by the Ministry of Law for general information. This legislative amendment aimed to modify existing taxation laws as part of the statutory framework governing income and wealth taxation in India.
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