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<h1>Central Government's Authority to Modify Wealth Tax for Certain Union Territories Under Section 46A Until March 31, 1967.</h1> Section 46A of the Wealth Tax Act, 1957, grants the Central Government the authority to make exemptions, rate reductions, or modifications concerning wealth tax for certain Union territories, including Dadra and Nagar Haveli, Goa, Daman and Diu, and Pondicherry. This power is intended to address hardships, anomalies, or difficulties arising from the Act's application or to implement provisions of the Treaty of Cession with France. However, this authority cannot be exercised after March 31, 1967, except to rescind previously made exemptions or modifications. This provision was inserted by the Taxation Laws (Extension to Union Territories) Regulation, 1963.