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WEALTH TAX ACT
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Index of Chapters [
Note
: Click on the list within each Chapter and Select the section to view. (Please disable Pop-up Blocker to view the Section) ]
Ch I
PRELIMINARY
1 - Short title extent and commencement
2 - Definitions
Ch II
CHARGE OF WEALTH-TAX AND ASSETS SUBJECT TO SUCH CHARGE
3 - Charge of wealth-tax
4 - Net wealth to include certain assets
5 - Exemptions in respect of certain assets
6 - Exclusion of assets and debts outside India
7 - Value of assets how to be determined
Ch III
WEALTH-TAX AUTHORITIES
8 - Wealth-tax authorities and their jurisdiction
8A. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
8AA. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
8B. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
9 - Control of wealth-tax authorities
9A. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
10 - Instructions to subordinate authorities
10A. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
11 - Jurisdiction of Assessing Officers and power to transfer cases
11A. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
11AA. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
11B. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987W.E.F. 1-4-1988]
12 - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
12A. - Appointment of Valuation Officers
13 - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1988]
13A. - Powers of Director General or Director Chief Commis sioner or Commissioner and Joint Commissioner to make enquiries
Ch IV
ASSESSMENT
14 - Return of wealth
15 - Return after due date and amendment of return
15A. - Return by whom to be signed
15B. - Self-assessment
15C. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1987 W.E.F. 1-4-1989]
16 - Assessment
16A. - Reference to Valuation Officer
17 - Wealth escaping assessment
17A. - Time limit for completion of assessment and reassess ment
17B. - Interest for defaults in furnishing return of net wealth
18 - Penalty for failure to furnish returns to comply with notices and concealment of assets etc.
18A. - Penalty for failure to answer questions sign state ments furnish information allow inspection etc.
18B. - Power to reduce or waive penalty in certain cases
18BA - Power of Commissioner to grant immunity from penalty
Ch IVA
SPECIAL PROVISION FOR AVOIDING REPETITIVE APPEALS
18C. - Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
Ch IVB
CHARGE OF ADDITIONAL WEALTH-TAX IN CERTAIN CASES
18D. - [OMITTED BY THE DIRECT TAX LAWS (AMENDMENT) ACT 1989 W.E.F. 1-4-1989]
Ch V
LIABILITY TO ASSESSMENT IN SPECIAL CASES
19 - Tax of deceased person payable by legal representative
19A. - Assessment in the case of executors
20 - Assessment after partition of a Hindu undivided family
20A. - Assessment after partial partition of a Hindu undivided family
21 - Assessment when assets are held by courts of wards administrators-general etc.
21A. - Assessment in cases of diversion of property or of income from property held under trust for public charitable or religious purposes
21AA. - Assessment when assets are held by certain associ ations of persons
22 - Assessment of persons residing outside India
Ch VA
SETTLEMENT OF CASES
22A. - Definitions
22B. - Wealth-tax Settlement Commission
22BA. - Jurisdiction and powers of Settlement Commission
22BB. - Vice-Chairman to act as Chairman or to discharge his functions in certain circumstances
22BC. - Power of Chairman to transfer cases from one Bench to another
22BD. - Decision to be by majority
22C. - Application for settlement of cases
22D. - Procedure on receipt of an application under section 22C
22DD. - Power of Settlement Commission to order provision al attachment to protect revenue
22E. - Power of Settlement Commission to reopen completed proceedings
22F. - Powers and procedure of Settlement Commission
22G. - Inspection etc. of reports
22H. - Powers of Settlement Commission to grant immunity from prosecution
22HA. - Abatement of the proceeding before Settlement Commission
22HAA. - Credit for tax paid in case of abatement of proceedings
22-I. - Order of settlement to be conclusive
22J. - Recovery of sums due under order of settlement
22K. - Bar on subsequent application for settlement
22L. - Proceedings before the Settlement Commission to be judicial proceedings
22M. - [OMITTED BY THE FINANCE ACT 1987 W.E.F. 1-6-1987]
Ch VI
APPEALS REVISIONS AND REFERENCES
23 - Appeal to the Deputy Commissioner (Appeals) from orders of Assessing Officer
23A. - Appealable orders before Commissioner (Appeals)
24 - Appeal to the Appellate Tribunal from orders of the Deputy Commissioner (Appeals)
25 - Powers of Commissioner to revise orders of subordinate authorities
26 - Appeal to the Appellate Tribunal from orders of en hancement by Chief Commissioners or Commissioners
27 - Reference to High Court
27A. - Appeal to High Court
28 - Hearing by High Court
29 - Appeal to Supreme Court
29A. - Tax to be paid notwithstanding reference etc.
29B. - Definition of High Court
Ch VII
PAYMENT AND RECOVERY OF WEALTH-TAX
30 - Notice of demand
31 - When tax etc. payable and when assessee deemed in default
32 - Mode of recovery
33 - Liability of transferees of properties in certain cases
34 - [OMITTED BY THE WEALTH-TAX (AMENDMENT) ACT 1964 W.E.F. 1-4-1965]
Ch VIIA
REFUNDS
34A. - Refunds
Ch VIIB
REGISTERED VALUERS
34AA. - Appearance by registered valuers
34AB. - Registration of valuers
34AC. - Restrictions on practice as registered valuer
34ACC. - Furnishing of particulars in certain cases
34AD. - Removal from register of names of valuers and restoration
34AE. - Existing registered valuers to apply afresh
Ch VIII
MISCELLANEOUS
34B. - Transfers to defraud revenue to be void
34C. - Provisional attachment to protect revenue in certain cases
35 - Rectification of mistakes
35A. - Wilful attempt to evade tax etc.
35B. - Failure to furnish returns of net wealth
35C. - Failure to produce accounts records etc.
35D. - False statement in verification etc. made under certain provisions of the Act
35E. - False statement in verification mentioned in section 34AB
35EE. - Failure to furnish particulars under section 34ACC
35EEE. - Contravention of order made under second proviso to sub-section (1) or sub-section (3A) of section 37A
35F. - Abetment of false return etc.
35G. - Punishment for second and subsequent offences
35GA - Power of Commissioner to grant immunity from prosecution
35H. - Offences by Hindu undivided families
35HA. - Offences by companies
35-I. - Prosecutions to be with the previous sanction of certain wealth-tax authorities and their power to compound of fences
35J. - Certain offences to be non-cognizable
35K. - Bar on prosecution and on inadmissibility of evidence in certain circumstances
35L. - Jurisdiction of courts
35M. - Section 360 of the Code of Criminal Procedure 1973 and the Probation of Offenders Act 1958 not to apply
35N. - Presumption as to books of account etc. in certain cases
35-O. - Presumption as to culpable mental state
36 - Proof of entries in records or documents
36A. - Power to tender immunity from prosecution
37 - Power to take evidence on oath etc.
37A. - Power of search and seizure
37B. - Power to requisition books of account etc.
37C. - Application of retained assets
38 - Information returns and statements
38A. - Powers of Valuation Officer etc.
39 - Effect of transfer of authorities on pending proceed ings
40 - Computation of periods of limitation
41 - Service of notice
42 - Notice deemed to be valid in certain circumstances
42A. - Publication of information respecting assessees
42B. - Disclosure of information respecting assessees
42C. - Return of wealth etc. not to be invalid on certain grounds
42D - Presumption as to assets books of account etc.
43 - Bar of jurisdiction
44 - Appearance before wealth-tax authorities by authorized representatives
44A. - Agreement for avoidance or relief of double taxation with respect to wealth-tax
44B. - Countries with which no agreement exists
44C. - Rounding off of net wealth
44D. - Rounding off of tax etc.
45 - Act not to apply in certain cases
46 - Power to make rules
46A. - Power to make exemption etc. in relation to certain Union Territories
47 - Power to remove difficulties
Ch SCH I
SCHEDULE I:RATES OF WEALTH TAX
- SCHEDULE I
Ch SCH II
SCHEDULE II:[OMITTED BY THE FINANCE ACT 1992 W.E.F. 1-4-1993]
- SCHEDULE II
Ch SCH III
SCHEDULE III:RULES FOR DETERMINING THE VALUE OF ASSETS
- SCHEDULE III
Ch ANNEX
ANNEX:[OMITTED BY THE FINANCE ACT 1992 W.E.F. 1-4-1993]
- ANNEX
Ch APPENDIX
APPENDIX:CERTAIN REMAINING PROVISIONS OF ALLIED ACTS REFERRED TO IN WEALTH-TAX ACT
- APPENDIX
