Wealth-tax rates set for individuals and HUFs with slab-based rates and surcharge applied to computed tax. Schedule I prescribes slab-based wealth-tax rates for individuals and Hindu undivided families, combining nil thresholds, percentage rates on amounts exceeding specified slabs and fixed additions at higher bands; a surcharge provision increases computed tax for the assessment year commencing 1 April 1988, and Part II and several rules concerning companies, nonresident reductions and offshore-asset adjustments were omitted effective 1 April 1993.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wealth-tax rates set for individuals and HUFs with slab-based rates and surcharge applied to computed tax.
Schedule I prescribes slab-based wealth-tax rates for individuals and Hindu undivided families, combining nil thresholds, percentage rates on amounts exceeding specified slabs and fixed additions at higher bands; a surcharge provision increases computed tax for the assessment year commencing 1 April 1988, and Part II and several rules concerning companies, nonresident reductions and offshore-asset adjustments were omitted effective 1 April 1993.
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