Section - 8 - Wealth-tax authorities and their jurisdiction
CHAPTER IIIWEALTH-TAX AUTHORITIES33[Wealth-tax authorities and their jurisdiction.8. The income-tax authorities specified in section 116 of the Income-tax Act shall be the wealth-tax authorities for the purposes of this Act and every such authority shall exercise the powers and perform the functions of a wealth-tax authority under this Act in respect of any individual, Hindu undivided family or company, and for this purpose his jurisdiction under this Act shall be the same as he has under the Income-tax Act by virtue of orders or directions issued under section 120 of that Act (including orders or directions assigning concurrent jurisdiction) or under any other provision of that Act.Explanation.-For the purposes of this section, the wealth-tax authority having jurisdiction in relation to a person who is not an assessee within the meaning of the Income-tax Act shall be the wealth-tax authority having jurisdiction in respect of the area in which that person resides.]
33. Substituted by the Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1988. Prior to its substitution, section 8, as amended by the Wealth-tax (Amendment) Act, 1964, w.e.f. 1-4-1965, Finance (No. 2) Act, 1967, w.e.f. 1-4-1967 and Taxation Laws (Amendment) Act, 1975, w.e.f. 1-10-1975, stood as under :"8. Wealth-tax Officers. -Every Income-tax Officer having jurisdiction or exercising powers as such under the Income-tax Act in respect of any individual, Hindu undivided family or company shall perform the functions of a Wealth-tax Officer under this Act in respect of such individual, Hindu undivided family or .... To read the full section download the app from Google Play store
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