Rule making power under the Wealth tax Act: notification amends the Wealth tax Rules, 1957 as First Amendment.
The taxing authority, exercising rule making power under the Wealth tax Act, issued Notification S.O.498(E) dated 12 7 1996 to amend the Wealth tax Rules, 1957; the instrument denotes these measures as the Wealth tax (First Amendment) Rules, 1996 and states the amendment text is contained in the body of the Rules and not reproduced in the notification.