Wealth-tax Act,1957

Act No : 27

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Section : Charge of wealth tax.

3. Charge of wealth tax. Subject to the other provisions contained in this Act, there shall be charged for every 2*[assessment year] commencing on and from the first day of April, 1957, a tax (hereinafter referred to as wealth-tax) in respect of the net wealth on the corresponding valuation date of every individual, Hindu undivided family and company at the rate or rates specified in the Schedule.

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