WEALTH TAX ACT, 1957
Section - 1 Short title, extent and commencement
Section - 3 Charge of wealth-tax
Section - 4 Net wealth to include certain assets
Section - 5 Exemptions in respect of certain assets
Section - 6 Exclusion of assets and debts outside India
Section - 7 Value of assets, how to be determined
Section - 8 Wealth-tax authorities and their jurisdiction
Section - 8A Powers of Commissioner respecting specified areas, cases, persons, etc
Section - 8AA Concurrent jurisdiction of Inspecting Assistant Commissioner and Wealth-tax Officer
Section - 8B Power to transfer cases
Section - 9 Control of wealth-tax authorities
Section - 9A Commissioners of Wealth-tax (Appeals)
Section - 10 Instructions to subordinate authorities
Section - 10A Directors of Inspection
Section - 11 Jurisdiction of Assessing Officers and power to transfer cases
Section - 11A Inspector of Wealth-tax
Section - 11AA Commissioner competent to perform any function or functions
Section - 11B Wealth-tax Officer competent to perform any function or functions
Section - 12 Control of wealth-tax authorities
Section - 12A Appointment of Valuation Officers
Section - 13 Wealth-tax authorities to follow orders, etc., of the Board
Section - 14A Power of Board to dispense with furnishing documents, etc., with return of wealth
Section - 14B Filing of return in electronic form
Section - 15 Return after due date and amendment of return
Section - 15A Return by whom to be signed
Section - 15C Provisional assessment
Section - 16A Reference to Valuation Officer
Section - 17 Wealth escaping assessment
Section - 17A Time limit for completion of assessment and reassessment
Section - 17B Interest for defaults in furnishing return of net wealth
Section - 18B Power to reduce or waive penalty in certain cases
Section - 18BA Power of Commissioner to grant immunity from penalty
Section - 18C Procedure when assessee claims identical question of law is pending before High Court or Supreme Court
Section - 18D Additional wealth-tax
Section - 19 Tax of deceased person payable by legal representative
Section - 19A Assessment in the case of executors
Section - 20 Assessment after partition of a Hindu undivided family
Section - 20A Assessment after partial partition of a Hindu undivided family
Section - 21 Assessment when assets are held by courts of wards, administrators-general, etc
Section - 21AA Assessment when assets are held by certain associations of persons
Section - 22 Assessment of persons residing outside India
Section - 22A Definitions
Section - 22B Wealth-tax Settlement Commission
Section - 22BA Jurisdiction and powers of Settlement Commission
Section - 22BC Power of Chairman to transfer cases from one Bench to another
Section - 22BD Decision to be by majority
Section - 22C Application for settlement of cases
Section - 22D Procedure on receipt of an application under
Section - 22DD Power of Settlement Commission to order provisional attachment to protect revenue
Section - 22E Power of Settlement Commission to reopen completed proceedings
Section - 22F Powers and procedure of Settlement Commission
Section - 22G Inspection, etc., of reports
Section - 22H Powers of Settlement Commission to grant immunity from prosecution
Section - 22HA Abatement of proceedings before Settlement Commission
Section - 22HAA Credit for tax paid in case of abatement of proceedings
Section - 22I Order of settlement to be conclusive
Section - 22J Recovery of sums due under order of settlement
Section - 22K Bar on subsequent application for settlement
Section - 22L Proceedings before the Settlement Commission to be judicial proceedings
Section - 23 Appeal to the93[Deputy Commissioner (Appeals)] from orders of 94[Assessing Officer]
Section - 23A Appealable orders before Commissioner (Appeals)
Section - 24 Appeal to the Appellate Tribunal from orders of the 33[Deputy Commissioner (Appeals).]
Section - 25 Powers of Commissioner to revise orders of subordinate authorities
Section - 27 Reference to High Court
Section - 27A Appeal to High Court
Section - 28 Hearing by High Court
Section - 29 Appeal to Supreme Court
Section - 29A Tax to be paid notwithstanding reference, etc
Section - 29B Definition of High Court
Section - 31 When tax, etc., payable and when assessee deemed in default
Section - 33 Liability of transferees of properties in certain cases
Section - 34 Restrictions on registration of transfers of immovable property in certain cases
Section - 34AA Appearance by registered valuers
Section - 34AB Registration of valuers
Section - 34AC Restrictions on practice as registered valuer
Section - 34ACC Furnishing of particulars in certain cases
Section - 34AD Removal from register of names of valuers and restoration
Section - 34AE Existing registered valuers to apply afresh
Section - 34B Transfers to defraud revenue to be void
Section - 34C Provisional attachment to protect revenue in certain cases
Section - 35 Rectification of mistakes
Section - 35A Wilful attempt to evade tax, etc
Section - 35B Failure to furnish returns of net wealth
Section - 35C Failure to produce accounts, records, etc.
Section - 35D False statement in verification, etc., made under certain provisions of the Act.
Section - 35E False statement in verification mentioned in section 34AB.
Section - 35EE Failure to furnish particulars under section 34ACC
Section - 35F Abetment of false return, etc.
Section - 35G Punishment for second and subsequent offences.
Section - 35GA Power of Commissioner to grant immunity from prosecution.
Section - 35H Offences by Hindu undivided families.
Section - 35HA Offences by companies
Section - 35J Certain offences to be non-cognizable
Section - 35K Bar on prosecution and on inadmissibility of evidence in certain circumstances
Section - 35L Jurisdiction of courts
Section - 35N Presumption as to books of account, etc., in certain cases
Section - 35O Presumption as to culpable mental state
Section - 36 Proof of entries in records or documents
Section - 36A Power to tender immunity from prosecution
Section - 37 Power to take evidence on oath, etc
Section - 37A Power of search and seizure
Section - 37B Power to requisition books of account, etc
Section - 37C Application of retained assets
Section - 38 Information, returns and statements
Section - 38A Powers of Valuation Officer, etc
Section - 39 Effect of transfer of authorities on pending proceedings
Section - 40 Computation of periods of limitation
Section - 41 Service of notice
Section - 42 Notice deemed to be valid in certain circumstances
Section - 42A Publication of information respecting assessees
Section - 42B Disclosure of information respecting assessees
Section - 42C Return of wealth, etc., not to be invalid on certain grounds
Section - 42D Presumption as to assets, books of account, etc
Section - 43 Bar of jurisdiction
Section - 44 Appearance before wealth-tax authorities by authorised representatives
Section - 44A Agreement for avoidance or relief of double taxation with respect to wealth-tax
Section - 44B Countries with which no agreement exists
Section - 44C Rounding off of net wealth
Section - 44D Rounding off of tax, etc
Section - 45 Act not to apply in certain cases
Section - 46 Power to make rules
Section - 46A Power to make exemption, etc., in relation to certain Union territories
Section - 47 Power to remove difficulties
Schedule I RATES OF WEALTH-TAX
Schedule II Omitted by the Finance Act, 1992, w.e.f. 1-4-1993
Schedule III RULES FOR DETERMINING THE VALUE OF ASSETS
APPENDIX CERTAIN REMAINING PROVISIONS OF ALLIED ACTS REFERRED TO IN WEALTH-TAX ACT
Section - Annex TEXT OF SECTION 40 OF THE FINANCE ACT, 1983
