Amendment of Act 27 of 1957

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....ted, 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 plus 1 per cent. of the amount by w....

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....0,000. (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 does not exceed Rs. 5,00,000 Rs. 3,750 plus 1 1/2 per cent. of the amount by whi....