TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Wealth-tax Act Amended: Net Wealth Exemption Increased to Rs.1,50,000; Refunds Available for Overpaid Tax for 1980-81.</h1> The Finance (No. 2) Act, 1980, amends the Wealth-tax Act, 1957, increasing the net wealth exemption limit from Rs.1,00,000 to Rs.1,50,000, effective from April 1, 1980, for the assessment year 1980-81. Taxpayers who paid wealth-tax on net wealth between these amounts before the enactment may be eligible for a refund. The Central Board of Direct Taxes instructs officers to promptly process assessments and issue refunds where applicable. This change should be communicated to all relevant officers to ensure compliance and timely refunds.
TaxTMI 
TaxTMI 
