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of <h1>Wealth-tax Act, 1957: Framework for Taxing Wealth Across India, Noted 1989 Notification for Sikkim Implementation.</h1> The Wealth-tax Act, 1957, is legislation enacted by the Parliament of India to impose a wealth tax. It is applicable throughout India and officially commenced on April 1, 1957. The Act outlines the legal framework for levying taxes on wealth, with specific provisions for its applicability in different regions, including a noted effective date for the State of Sikkim as per a notification issued in 1989.
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