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THE WEALTH-TAX ACT, 1957

Title : THE WEALTH-TAX ACT, 1957

Year : 1957



Subject to the other provisions contained in this Act, there shall be charged for every 1*[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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1 Sub. by s. 3, ibid., for "financial year" (w.e.f. 1-4-1965).

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(1) In computing the net wealth of an individual, 1*[there shall be included, as belonging to that individual]:

(a) The value of assets which on the valuation date are held:

(i)2* By the spouse of such individual to whom such assets have been transferred by the individual, directly or indirectly, otherwise than for adequate consideration or in connection with an agreement to live apart, or

(ii) By a minor child, not being a married daughter, of such individual, to whom such assets have been transferred by the individual, directly or indirectly, otherwise than for adequate consideration, or

(iii) By a person or association of persons to whom such assets have been transferred by the individual otherwise than for adequate consideration for the immediate or deferred benefit of the individual, his or her spouse or minor child (not being a married daughter) or both, or]

(iv) By a person or association of persons to whom such assets have been transferred by the individual otherwise than under an irrevocable transfer, whether the assets referred to in any of the sub-clauses aforesaid are held in the form in which they were transferred or otherwise:

3*Provided that where the transfer of such assets or any part thereof is either chargeable to gift-tax under the Gift-taxt Act, 1958 (18 of 1958) or is not chargeable under section 5 of that Act, for any assessment year commencing 4*[after the 31st day of March, 1964, but before the 1st day of April, 1972], the value of such assets or part thereof, as the case may be, shall not be included in computing the net wealth of the individual;]

(b) where the assessee is a partner in a firm or a 4*[member of an association of persons (not being a co-operative housing society)] the value of his interest in the firm or association determined in the prescribed manner.

(1A) 5* Where, in the case of an individual being a member of a Hindu undivided family, any property having been the separate property of the individual has, at any time after the 31st day of December, 1969, been converted by the individual into property belonging to the family through the act of impressing such separate property with the character of property belonging to the family or throwing it into the common stock of the family (such property being hereinafter referred to as the converted property), then, notwithstanding anything contained in any other provision of this Act or in any other law for the time being in force, for the purpose of computing the net wealth of the individual under this Act for any assessment year commencing on or after the 1st day of April, 1972,

(a) The individual shall be deemed to have transferred the converted property, through the family, to the members of the family for being held by them jointly;

(b) The converted property or any part thereof, in so far as it is attributable to the interest of the individual in the property of the family, shall be deemed to be assets belonging to the individual and not to the family;

(c) Any part of the converted property in so far as it is attributable to the interest of the spouse or any minor child of the individual in the property of the family and where there is a partition (partial or total) amongst the members of the family, the converted property or any part thereof which is received by the spouse or minor child on such partition shall be deemed to be assets transferred indirectly by the individual to the spouse or minor child and the provisions of sub-section

(1) shall, so far as may be, apply accordingly:

Provided that the property referred to in clause (b) or clause (c) shall, on being included in the net wealth of the individual, be excluded from the net wealth of the family or, as the case may be, the spouse or minor child of the individual.

(2) In making any rules with reference to the valuation of the interest referred to in clause (b) of sub-section (1), the Board shall have regard to the law for the time being in force relating to the manner in which accounts are to be settled between partners of a firm and members of an association on the dissolution of a firm or association, as the case may be.

(3) Where the value of any assets is to be included in the net wealth of an assessee in accordance with clause (a) of sub-section (1), there shall be deducted from such value any debts owing on the valuation date by the transferee mentioned in that sub-section in so far as such debts are referable to the assets.

(4) Nothing contained in clause (a) of sub-section (1) shall apply to any such transfer as is referred to therein made by an individual before the 1st day of April, 1956, and the value of any assets so transferred shall not be included in the computation of his net wealth.

(5) The value of any assets transferred under an irrevocable transfer shall be liable to be included in computing the net wealth of the transfer or as and when the power to revoke arises to him.

(6)6* For the purposes of this Act, the holder of an impartible estate shall be deemed to be the individual owner of all the properties comprised in the estate.

(7)7* Where the assessee is a member of an association of persons, being a co-operative housing society, and a building or part thereof is allotted or leased to him under a house building scheme of the society, the assessee shall, notwithstanding anything contained in this Act or any other law for the time being in force, be deemed to be the owner of such building or part and the value of such building or part shall be included in computing the net wealth of the assessee; and, in determining the value of such building or part, the value of any outstanding installments of the amount payable under such scheme by the assessee to the society towards the cost of such building or part and the land appurtenant thereto shall, whether the amount so payable is described as such or in any other manner in such scheme, be deducted as a debt owned by him in relation to such building or part.

Explanation.-For the purposes of this section,-

(a) The expression "transfer" includes any disposition, settlement, trust, covenant, agreement or arrangement,

(b)8* The expression "irrevocable transfer" includes a transfer of assets which, by the terms of the instrument effecting it, is not revocable for a period exceeding six years or during the life-time of the transferee, and under which the transferor derives no direct or indirect benefit, but does not include a transfer of assets if such instrument-

(i) Contains any provision for the re-transfer, directly or indirectly, of the whole or any part of the assets or income therefrom to the transfer, or

(ii) In any way gives the transfer or a right to reassume power, directly or indirectly, over the whole or any part of the assets or income there from.

(c) The expression "property" includes any interest in property, movable or immovable, the proceeds of sale thereof and any money or investment for the time being representing the proceeds of sale thereof and where the property is converted into any other property by any method, such other property; and

(d)9* The expressions "interest of the individual in the property of the family" and "interest of the spouse or any minor child of the individual in the property of the family" mean, respectively, the proportion in which the individual or, as the case may be, the spouse or minor child would be entitled to share the property of the family if there had been a total partition in the family as on the valuation date of the family relevant to the assessment year for which the individual is to be assessed under sub-section (1A).]

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1 Subs. by s. 4, ibid., for "there shall be included, as belonging to him" (w.e.f. 1-4-1965).
 
2 Subs. by s. 4, ibid., for sub-clauses (i), (ii) and (iii) (w.e.f.1-4-1965).

3 Ins. by Act 46 of 1964, s. 4 (w.e.f. 1-4-1965).

4 Subs. by Act 32 of 1971, s. 31, for certain words (w.e.f. 1-4-
1972).

5 Ins. by s. 31, ibid. (w.e.f. 1-4-1972).

6 Subs. by Act 46 of 1964, s. 4, for the Explanation (w.e.f. 1-4-
1965).

7 Ins. by Act 32 of 1971, s. 31 (w.e.f. 1-4-1972).

8 The word "and" omitted by s. 31, ibid. (w.e.f. 1-4-1972).

9 Ins. by Act 32 of 1971, s. 31 (w.e.f. 1-4-1972).

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(1) 1* Subject to the provisions of sub-section (1A), wealth-tax shall not be payable by an assessee in respect of the following assets] and such assets shall not be included in the net wealth of the assessee-

(i) Any property held by him under trust or other legal obligation for any public purpose of a charitable or religious nature in India;

(ii) The interest of the assessee in the occupation property of any Hindu undivided family of which he is a member;

(iii) Any one building in the occupation of a Ruler declared by the Central Government as his official residence under paragraph 13 of the Merged States (Taxation Concessions) Order, 1949, or paragraph 15 of the Part B States (Taxation Concessions) Order, 1950;

(iv) 2* One house or part of a house belonging to the assessee

3* Provided that, where the value of such house or part exceeds one hundred thousand rupees, the amount that shall not be included in the net wealth of the assessee under this clause shall be one hundred thousand rupees;

(iva)4* Agricultural land belonging to the assessee subject to a maximum of one hundred and fifty thousand rupees in value:

Provided that where the assessee owns any house or part of a house situate in a place with a population exceeding ten thousand and to which the provisions of clause (iv) apply and the value of such house or part of a house together with the value of the agricultural land exceeds one hundred and fifty thousand rupees, then the amount that shall not be included in the net wealth of the assessee under this clause shall be one hundred and fifty thousand rupees as reduced by so much of the value of such house or part of house as is not to be included in the net wealth of the assessee under clause (iv):

(ivb)5* One building or one group of buildings owned by a cultivator of, or receiver of rent or revenue out of, agricultural land:
Provided that such building or group of buildings is on or in the immediate vicinity of the land and is required by the cultivator or the receiver of rent or revenue, by reason of his connection with the land, as dwelling house, store-house or outhouse;

(v) The rights under any patent or copyright belonging to the assessee:

Provided that they are not held by him as assets of a business, profession or vocation and no income or benefit accrues to him therefrom;

(vi) The right or interest of the assessee in any policy of insurance before the moneys covered by the policies become due and payable to the assessee;

(via)6* The right of the assessee to receive any annuity payable by the Central Government under the provisions of section 280D of the Income-tax Act;

(vii) The right of the assessee to receive a pension or other life annuity in respect of past services under an employer;

(viii) Furniture, household utensils, wearing apparel, provisions and other articles intended for the personal or household use of the assessee 7*[ but not including jewellery]:

8* Provided that the furniture, utensils or other articles are neither made wholly or partly of, nor contain (whether by way of embedding, covering or otherwise), gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals:

Provided further that nothing in this clause shall operate to exclude from the net wealth of the assessee any conveyance or conveyances to the extent the value or the aggregate value thereof exceeds the sum of twentyfive thousand rupees.

Explanation 1: For the purposes of this clause and clause

(xiii), "Jewellery" includes-

(a) Ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stone, and whether or not worked or sewn into any wearing apparel;

(b) Precious or semi-precious stones, whether or not set in any furniture, utensil or other article or worked or sewn into any wearing apparel.

Explanation 2: For the purposes of this clause, "conveyance" means any motor car or other mechanically propelled vehicle, aircraft or boat;]

(viiia)9* Growing crops (including fruits on trees) on agricultural land and grass on such land;

(ix) 10* The tools, implements and equipment used by the assessee for the cultivation, conservation, improvement or maintenance of agricultural land, or for the raising or harvesting of any agricultural or horticultural produce on such land.

Explanation.-For the purposes of this clause, tools, implements and equipment do not include any plant or machinery used in any tea or other plantation in connection with the processing of any agricultural produce or in the manufacture of any article from such produce;]

(x) The tools and instruments necessary to enable the assessee to carry on his profession or vocation, subject to a maximum of twenty thousand rupees in value;

(xi) Instruments and other apparatus used by the assessee for purposes of scientific research;

(xii) Any works of art, archaeological, scientific or art collections, books or manuscripts belonging to the assessee and not intended for sale;

(xiii) Any drawings, paintings, photographs, prints and any other heirloom not falling within clause (xii) and not intended for sale, but not including jewellery;

(xiv) Jewellery in the possession of any Ruler, not being his personal property, which has been recognised before the commencement of this Act by the Central Government as his heirloom or, where no such recognition exists, which the Board may, subject to any rules that may be made by the Central Government in this behalf, recognise as his heirloom at the time of his first assessment to wealth-tax under this Act;

11*(xv) 12*[Deposits] under any scheme framed by the Central Government and notified by it in this behalf in the Official Gazette, to the extent to which the amounts of such deposits do not exceed the maximum amount permitted to be deposited therein;]

(xvi) Ten year treasury savings deposit certificates, fifteen year annuity certificates, deposits in post office savings banks, post office cash certificates, 13*[post office national savings certificates, post office national plan certificates and 14*[twelve year national plan savings certificates, ten year defence deposit certificates and twelve year national defence certificates 15*, to the extent to which the amount of such certificates or deposits do not exceed in each case the maximum amount permitted to be invested or deposited therein];

(xvia) 16* 6 1/2 per cent. Gold Bonds, 1977, 7 per cent. Gold Bonds, 1980 and National Defence Gold Bonds, 1980;

(xvii) The amount standing to the credit of an assessee, being a salaried employee, in any provident fund maintained by his employer to which the Provident Funds Act, 1925, (19 of 1925.) applies or which is a recognised provident fund within the meaning of 17*[clause (38) of section 2] of the Income-tax Act;

(xvii-a) 18* The amount standing to the credit of an individual in any provident fund set up by the Central Government and notified by it in this behalf in the Official Gazette;]

(xviii) The property received by an assessee from Government in pursuance of any gallantry or merit award instituted or approved by the Central Government;

(xix) The value of any shares held by the assessee in any other company in any case where the assessee is a company;

(xx)19* The value of any equity shares held by the assessee in any company of the type referred to in clause (d) of section 45, where such shares form part of the initial issue of equity share capital made by the company

20* After the 31st day of March 1964, but before the 1st day of June, 1971], for a period of five successive assessment years commencing with the assessment year next following the date on which such company commences the operations for which it has been established;

(xx) Was omitted by Act 20 of 1962, s. 12 (w.e.f. 1-4-1962).7 Sub. by Act 32 of 1971, s. 32, for "after the 31st day of March, 1964" (w.e.f. 1-4-1972).

(xxi) That portion of the net wealth of a company established with the object of carrying on an industrial undertaking in India within the meaning of the Explanation to clause (d) of section 45, as is employed by it in a new and separate unit set up after the commencement of this Act by way of substantial expansion of its undertaking:

Provided that-

(a) Separate accounts are maintained in respect of such unit; and

(b) The conditions specified in clause (d) of section 45 are complied with in relation to the establishment of such unit:

Provided further that this exemption shall apply of any such company only for a period of five successive assessment years commencing with the assessment year next following the date on which the company commences operations for the establishment of such unit;

(xxii)21* Any security of the Central Government or a State Government [not being a security referred to in clause (xvi) or clause (xvia)];

(xxiii) Any shares [not being shares referred to in clause

(xx)] Held by the assessee in any Indian company where the assessee is an individual or a Hindu undivided family;

(xxiv) Such debentures, issued by any co-operative society (including a co-operative land mortgage bank or a co-operative land development bank) or any other institution or authority, as the Central Government may, by notification in the Official Gazette, specify in this behalf;]

(xxv) Units in the Unit Trust of India established under the Unit Trust of India Act, 1963 (52 of 1963)

(xxvi) Any deposits with a banking company to which the Banking Regulation Act, 1949, (10 of 1949) applies (including any bank or banking institution referred to in section 51 of that Act), or with a co-operative society engaged in carrying on the business of banking (including a co-operative land mortgage bank or a co-operative land development bank)

(xxvii) Any deposits with a financial corporation which is engaged in providing long-term finance for industrial development in India and which is approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36 of the Income-tax Act;]

(xxviii)22* Any shares held by the assessee in any co- operative society;

(xxix) Any deposits with a co-operative society, not being deposits referred to in clause (xxvi) or clause (xxx), made by a member of the society;

(xxx) Any deposits with a co-operative housing society made by a member of the society to whom a building or part thereof is allotted or leased under a house building scheme of the society, where such deposits have been made under such scheme.]

(1A) 23* Nothing contained in sub-section (1) shall operate to exclude from the net wealth of the assessee any assets referred to in clauses (xv), (xvi), (xxii), (xxiii), (xxiv), (xxv), 24*[(xxvi),
(xxvii), (xxviii), and (xxix)] [not being deposits under the Post Office Savings bank (Cumulative Time Deposits) Rules, 1959], to the extent the value thereof exceeds in the aggregate, a sum of one hundred and fifty thousand rupees:

Provided
that where the assets include any assets referred to in clause (xv) or clause (xvi) [not being deposits under the Post Office Savings Bank (Cumulative Time Deposits) Rules, 1959] which have been held by the assessee continuously from a date prior to the 1st day of March, 1970 and the value of the assets so included exceeds the limit of one hundred and fifty thousand rupees by any amount, such limit shall be raised by the said amount.]

(2) Wealth-tax shall not be payable by an assessee in respect of any deposit made by the assessee with the Government or in any security of the Government or of a local authority not specified in 25*[clause (xv) or] 26*[clause (xvi) or clause (xvia)] of sub-section (1) which the Central Government may, by notification in the Official Gazette, exempt from wealth-tax; but the value of any deposit or security so exempted shall be included in computing the net wealth of the assessee.

(3) Notwithstanding anything contained in sub-section (1), wealth-tax shall be payable by an assessee in respect of the assets referred to in 27*[clauses (xv), (xvi), (xix), (xxii), (xxiii), (xxiv),
(xxv) 28*[(xxvi), (xxvii), (xxviii), and (xxix)] of sub-section (1) or in sub-section (2) for any assessment year unless the assets are held by him-

(a) In the case of shares in a company, from the date on which the shares were first issued by the company, or for a period of at least six months ending with the relevant valuation date, whichever is shorter; and

(b) In the case of other assets, for a period of at least six months ending with the relevant valuation date:

Provided that for the purpose of making any assessment for the
assessment year commencing on the 1st day of April, 1963, the provisions of clause (b) shall not apply to ten year defence deposit certificates and twelve year national defence certificates held by the assessee on the relevant valuation date.

29* Explanation.-For the purposes of clause (a) or clause (b) of this sub-section, in computing the period of six months in relation to any asset (not being any share or security held as stock-in-trade for the purposes of the business of the assessee) in a case where such asset (hereafter in this Explanation referred to as the relevant asset) was acquired by the assessee by conversion of, or in exchange for, or with the proceeds of, or with the money constit -uting, any other asset exempt from wealth-tax under sub -section (1) or sub-section (2), there shall be included, if the assessee acquired the relevant asset within thirty days after he 30*[ceased to own] such other asset, so much of the period for which the assessee  has owned such other asset] as falls within the period of twelve months ending with the relevant valuation date.

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1 Subs. by Act 19 of 1970, s. 26, for certain words (w.e.f. 1-4-1971).

2 Subs. by s. 26, ibid., for "clause (iv)" (w.e.f. 1-4-1971).

3 Certain words omitted by Act 32 of 1971, s. 32 (w.e.f. 1-4-1972).

4 Ins. by Act 14 of 1969, s. 24 (w.e.f. 1-4-1970).

5 Ins. by Act 19 of 1970, s. 26 (w.e.f. 1-4-1971).

6 Ins. by Act 42 of 1970, s. 59 (w.e.f. 1-4-1965).

7 Ins. by Act 32 of 1971, s. 32 (w.e.f. 1-4-1963).

8 Ins. by Act 14 of 1969, s. 24 (w.e.f. 1-4-1970).

9 Ins. by Act 32 of 1971, s. 32 (w.e.f. 1-4-1972).

10 Subs. by Act 14 of 1969, s. 24 for clause (ix) (w.e.f. 1-4-1970).

11 Ins. by Act 19 of 1968, s. 32 (w.e.f. 1-4-1969).

12 Subs. by Act 19 of 1970, s. 26, for "fixed deposits" (w.e.f. 1-4-1971).

13 Subs. by Act 11 of 1958, s. 14, for "and post office national savings certificates" (with retrospective effect).

14 Subs. by Act 13 of 1963, s. 21, for "twelve year national plan savings certificates held by the assessee" (w.e.f. 1-4-1963). The words in italics were subs. by Act 11 of 1958, s. 14.

15 The words "held by the assessee" omitted by Act 19 of 1968, s. 32.(w.e.f. 1-4-1969).

16 Subs. by Act 41 of 1965, s. 6, for cl. (xvia).

17 Subs. by Act 46 of 1964, s. 5, for "Chapter IXA" (w.e.f. 1-4-1965).

18 Ins. by Act 19 of 1968, s. 32 (w.e.f. 1-4-1969).

19 Ins. by Act 10 of 1965, s. 70 (w.e.f. 1-4-1965). The original cl.

20 Ins. by Act 19 of 1970, s. 26 (w.e.f. 1-4-1971).

21 Ins. by Act 32 of 1971, s. 32 (w.e.f. 1-4-1972).

22 Ins. by Act 19 of 1970, s. 26 (w.e.f. 1-4-1971).

23 Sub. by Act 32 of 1971, s. 32, for (xxvi) and (xxvii" (w.e.f. 1-4-1972).

24 Ins. by Act 19 of 1968, s. 32 (w.e.f. 1-4-1969).

25 Sub. by Act 54 of 1962, s. 5, for "clause (xvi).

26 Subs. by Act 19 of 1970, s. 26, for clause (xvi) and clause
(xix)" (w.e.f. 1-4-1971).

27 Subs. by Act 32 of 1971, s. 32, for "(xxvi) and (xxvii) (w.e.f.
1-4-1972).

28 Added by Act 13 of 1963, s. 21 (w.e.f. 1-4-1963).

29 Subs. by Act 46 of 1964, s. 5, for "financial year" (w.e.f. 1-4-1965).

30 Subs. by Act 11 of 1958, s. 14, for certain words (with retrospective effect).

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1*In computing the net wealth of an individual who is not a citizen of India or of an individual] or a Hindu undivided family not president in India or resident but not ordinarily resident in India, or of a company not resident in India during the year ending on the valuation date:

(i) The value of the assets and debts located outside India; and

(ii) The value of the assets in India represented by any loans or debts owing to the assessee in any case where the interest, if any, payable on such loans or debts is not to be included in the total income of the assessee under 2*[section 10] of the Income-tax Act; shall not be taken into account.

Explanation 1: An individual or a Hindu undivided family shall be deemed to be not resident in India or resident but not ordinarily resident in India during the year ending on the valuation date if in respect of that year the individual or the Hindu undivided family, as the case may be, is not resident in India or resident but not ordinarily resident in India within the meaning of the Income-tax Act.

Explanation 2: A company shall be deemed to be resident in India during the year ending on the valuation date, if-

(a) It is a company formed and registered under the Companies Act, 1956, (1 of 1956.) or is an existing company within the meaning of that Act; or

(b) During that year the control and management of its affairs is situated wholly in India.

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1 Subs. by Act 46 of 1964, s. 6, for "sub-section (3) of section 4"(w.e.f. 1-4-1965).

2 Ins. by Act 16 of 1972, s. 45 (w.e.f. 1-4-1973).

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(1) 1* Subject to any rules made in this behalf, the value] of any asset, other than cash, for the purposes of this Act, shall be estimated to be the price which in the opinion of the Wealth-tax Officer it would fetch if sold in the open market on the valuation date.

(2) Notwithstanding anything contained in sub-section (1):

(a) Where the assessee is carrying on a business for which accounts are maintained by him regularly, the Wealth-tax Officer may, instead of determining separately the value of each asset held by the assessee in such business, determine the net value of the assets of the business as a whole having regard to the balance-sheet of such business as on the valuation date and making such adjustments therein as 2*[may be prescribed];

(b) Where the assessee carrying on the business, is a company not resident in India and a computation in accordance with clause (a) cannot be made by reason of the absence of any separate balance-sheet drawn up for the affairs of such business in India, the Wealth-tax officer may take the net value of the assets of the business in India to be that proportion of the net value of the assets of the business as a whole wherever carried on determined as aforesaid as the income arising from the business in India during the year ending with the valuation date bears to the aggregate income from the business wherever arising during that year.

(3) 3* Notwithstanding anything contained in sub-section (1), where the valuation of any asset is referred by the Wealth-tax officer to the Valuation Officer under section 16A, the value of such asset shall be estimated to be the price which, in the opinion of the Valuation Officer, it would fetch if sold in the open market on 4*[the valuation date, or, in the case of an asset being a house referred to in sub-section (4), the valuation date referred to in that sub-section]

(4) 5* Notwithstanding anything contained in sub-section (1), the value of a house belonging to the assessee and exclusively used by him for residential purposes throughout the period of twelve months immediately preceding the valuation date may, at the option of the assessee, be taken to be the price which, in the opinion of the Wealth-tax Officer, it would fetch if sold in the open market on the valuation date next following the date on which he became the owner of the house, or on the valuation date relevant to the assessment year commencing on the 1st day of April, 1971, whichever valuation date is later:

Provided that where more than one house belonging to the assessee is exclusively used by him for residential purposes, the provisions of this sub-section shall apply only in respect of one of such houses which the assessee may, at his option, specify in this behalf in the return of net wealth.

Explanation: For the purposes of this sub-section-

(i) Where the house has been constructed by the assessee, he shall be deemed to have become the owner thereof on the date on which the construction of such house was completed;

(ii) "House" includes a part of a house, being an independent residential unit.

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1 Subs. by Act 46 of 1964, s. 7, for "The value" (w.e.f. 1-4-1965).

2 Subs. by s. 7, ibid., for "the circumstances of the case may require" (w.e.f. 1-4-1965).

3 Subs. by Act 20 of 1967, s. 34, for Explanation (w.e.f. 1-4-1967).

4 Ins. by Act 45 of 1972, s. 8 (w.e.f. 1-1-1973).

5 Subs. and ins. by Act 66 of 1976, s. 27 (w.e.f. 1-4-1976).

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Last updated on July, 2016

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