The Finance (No. 2) Act, 1980--Raising of maximum limit of value of net wealth not liable to tax--Refund of tax if paid in excess under section 15B of the W.T. Act, 1957--Assessment year 1980-81

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.... the W.T. Act, 1957--Assessment year 1980-81 Circular No. 290 Dated 31/1/1981 The Finance (No.2) Act, 1980, has amended the First Schedule to the Wealth-tax Act, 1957, raising the limit of maximum amount not liable to wealth-tax from Rs.1,00,000 to Rs.1,50,000. The new provision has come into force from 1st April, 1980, in terms of section 1(2) of the Finance (No.2) Act, 1980. Accordingly, the ....