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of <h1>Estate Duty Act Amended: New Section 16A, Changes to Sections 33 & 36, and Increased Exemption Limit to Rs. 1,50,000.</h1> The Estate Duty (Amendment) Act, 1982, enacted as Act No. 31 of 1982, introduces several key changes to the Estate Duty Act, 1953. It includes a new section 16A addressing the deceased's interest in buildings allotted or leased by co-operative housing societies. Section 33 is amended to exempt certain deposits with co-operative housing societies from duty. Section 36 is revised to align the valuation of a residential house with the Wealth-tax Act, 1957. Additionally, the Second Schedule is amended to increase the exemption limit to Rs. 1,50,000 and restructure the rate schedule accordingly.
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