Amendment of Act 27 of 1957

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....t shall be substituted, namely :- "PART I (1) In the case of every individual or Hindu undivided family, not being a Hindu undivided family to which item (2) of this Part applies, - Rates of tax (a) where the net wealth does not exceed Rs. 2,50,000 1/2 per cent. of the net wealth; (b) where the net wealth exceeds Rs. 2,50,000 but does not exceed Rs. 5,00,000 Rs. 12,50 pl....

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.... 5 per cent. of the amount by which the net wealth exceeds Rs. 1,00,000. (2) In the case of every Hindu undivided family which has at least one member whose net wealth assessable for the assessment year exceeds Rs. 1,00,000, - Rates of tax (a) where the net wealth does not exceed Rs. 2,50,000 1 1/2 per cent. of the net wealth; (b) where the net wealth exceeds Rs. 2,50,000 but ....