Wealth tax - exemption of residential house property

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ted : July 9, 1973 Section(s) Referred: 5(1)(iv) Statute: Wealth Tax Act, 1957 Under clause (iv) of Sub-section(1) of Section (1) of section 5 of the W.T.Act one house or part of a house belo....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....nce(No.2) Act, w.e.f.1-4-72. A question has, therefore, arisen as to the meaning of the term 'house' occurring in section 5(i)(iv) after 1-4-72. The Board are advised that the term house in section 5(....