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<h1>Amendment to Wealth-tax Act: New Explanation 2 Encourages Voluntary Disclosure of Net Wealth After Document Seizure.</h1> Section 18B of the Wealth-tax Act, 1957, is amended by the Taxation Laws (Amendment) Act, 1984, effective October 1, 1984. The amendment involves numbering the existing Explanation as Explanation 1 and adding a new Explanation 2. Explanation 2 states that if a person's books or documents are seized under section 37A and they make a full and true disclosure of their net wealth to the Commissioner within fifteen days, it will be considered a voluntary and good faith disclosure before any detection of concealment or inaccuracies by the Wealth-tax Officer.