Rate reduction in section 34A: statutory percentages for levies under the Wealth tax Act are lowered by amendment. Amendment modifies Section 34A of the Wealth-tax Act by substituting lower statutory percentages: it replaces the percentage in sub section (3) with a reduced percentage and replaces the percentage in clause (a) of sub section (4B) with a lower rate, thereby adjusting the numerical percentages applied for wealth tax calculations under those specific provisions.
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Rate reduction in section 34A: statutory percentages for levies under the Wealth tax Act are lowered by amendment.
Amendment modifies Section 34A of the Wealth-tax Act by substituting lower statutory percentages: it replaces the percentage in sub section (3) with a reduced percentage and replaces the percentage in clause (a) of sub section (4B) with a lower rate, thereby adjusting the numerical percentages applied for wealth tax calculations under those specific provisions.
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