Wealth-Tax Act, 1957

Schedule I - RATES OF WEALTH-TAX

SCHEDULE 54[I]

55[[See section 3(1)]]

RATES OF WEALTH-TAX

56[PART I

(1) In the case of every individual or Hindu undivided family, not being a Hindu undivided family, to which item (2) of this Part applies,-

Rate of tax

(a)where the net wealth does not exceed Rs. 2,50,000Nil;
(b)where the net wealth exceeds Rs. 2,50,000 but does not exceed Rs. 10,00,000- per cent of the amount by which the net wealth exceeds Rs. 2,50,000;
(c)where the net wealth exceeds Rs 10,00,000 but does not exceed Rs. 20,00,000Rs. 3,750 plus 1 per cent of the amount by which the net wealth exceeds Rs. 10,00,000;
(d)where the net wealth exceeds Rs. 20,00,000.... To read the full section download the app from Google Play store