Amendment of section 18
Section 33 of the Finance Act, 1971 deals with amendment of section 18. Amendment of section 18. 33. In section 18 of the Wealth-tax Act, with effect from the 1st day of April, 1972 — (a) in clause (i) of sub-section (1), for sub-clauses (A) and (B), the following sub-clauses shall be substituted, namely:— " (A) the net wealth assessed under section 16 as reduced by the The Act was enacted on 10 Aug 1971.
Amendment of section 18.
33. In section 18 of the Wealth-tax Act, with effect from the 1st day of April, 1972 —
(a) in clause (i) of sub-section (1), for sub-clauses (A) and (B), the following sub-clauses shall be substituted, namely:—
" (A) the net wealth assessed under section 16 as reduced by the amount specified in sub-section (1A), or
(B) the net wealth assessed under section 17, where assessment has been made under that section, as reduced by—
(1) the net wealth, if any, assessed previously under section 16 or section 17, or
(2) the amount specified in sub-section (1A), whichever is greater,";
(b) after sub-section (1), the following sub-section shall be inserted, namely: —
"(1A) The amount referred to in sub-clause (A) and sub-clause (B) (2) of clause (i) of sub-section (1) shall be,—
(a) in the case of an individual, Rs. 1,00,000;
(b) in the case of a Hindu undivided family, Rs. 2,00,000; and
(c) in the case of a company, Rs. 5,00,000.".
[Finance (No.
2) Act, 1971]
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Section 33, The Finance Act, 1971 (Act 32 of 1971).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 33
What does Section 33 of the Finance Act deal with?
Section 33 of the Finance Act is headed "Amendment of section 18". Amendment of section 18. 33. In section 18 of the Wealth-tax Act, with effect from the 1st day of April, 1972 — (a) in clause (i) of sub-section (1), for sub-clauses (A) and (B), the following sub-clauses shall be substituted, namely:— " (A) the net wealth assessed under section 16 as reduced by the
How do I find court cases under Section 33 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1971 33, section 33 Finance Act 1971, section 33 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 33 of the Finance Act, and has it changed?
Its own text turns on section 16 (Amendment of section 80-I), section 17 (Amendment of section 80L), section 18 (Amendment of section 80M), Wealth-tax Act 18 (Penalty for failure to furnish returns, to comply with notices and concealment of assets, etc), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 33 of the Finance Act enacted?
Section 33 of the Finance Act, cited as Finance Act 1971 33, was enacted on 10 Aug 1971 as Act 32 of 1971. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule3950 words
- 10. Amendment of section 40A1041 words
- 2. Income-tax860 words
- 31. Amendment of section 4836 words
- 37. Amendment of Act 18 of 1958668 words
- 32. Amendment of section 5496 words
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