https://www.taxtmi.com/acts?id=46660 Where assets held for others exceed the aggregate value of beneficiaries' interests, wealth-tax is levied and recovered from the fiduciary (court of wards, administrator-general, official trustee, receiver, manager or other trustee) in respect of the excess, treating that excess as the net wealth of a resident individual and applying either Schedule I rates or a specified alternate rate, whichever is more beneficial to revenue; amendments also adjust provisos and add an Explanation deeming beneficiaries' shares indeterminate unless expressly stated and ascertainable in the creating order or instrument. en-us Thu, 26 Dec 2024 13:26:38 +0530 Thu, 26 Dec 2024 13:26:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46660 Where assets held for others exceed the aggregate value of beneficiaries' interests, wealth-tax is levied and recovered from the fiduciary (court of wards, administrator-general, official trustee, receiver, manager or other trustee) in respect of the excess, treating that excess as the net wealth of a resident individual and applying either Schedule I rates or a specified alternate rate, whichever is more beneficial to revenue; amendments also adjust provisos and add an Explanation deeming beneficiaries' shares indeterminate unless expressly stated and ascertainable in the creating order or instrument. Act-Rules F. Acts / Amendment Acts Thu, 26 Dec 2024 13:26:38 +0530 https://www.taxtmi.com/acts?id=46660