plz expain sec 33 of wealth tax

section 33 WT Act, 1957    ---  Liability of transferees of properties in certain cases.

Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall,

notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the Wealth-tax Officer in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid.

In ur example, husband will be liable for paying wealth tax as the asset will be clubbed in his wealth, but tax can be recovered from the wife as well if the husband defaults. This acts as a remedy to the Revenue Deptt.

thankx

it means primary liab.will be of husband n if he defaults then wife can be asked to pay tax on her portion of asset trnsfrd only...........