Deposit-linked insurance fund property included in wealth-tax provision by amendment clarifying treatment of fund-held assets. The amendment inserts clause (xviiba) into section 5(1) of the Wealth-tax Act, 1957 to include property held by Boards of Trustees on behalf of Deposit-linked Insurance Funds under the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 and the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 within the specified provision.
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Deposit-linked insurance fund property included in wealth-tax provision by amendment clarifying treatment of fund-held assets.
The amendment inserts clause (xviiba) into section 5(1) of the Wealth-tax Act, 1957 to include property held by Boards of Trustees on behalf of Deposit-linked Insurance Funds under the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 and the Employees' Provident Funds and Miscellaneous Provisions Act, 1952 within the specified provision.
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