Bill or law · India
The Wealth-tax Act, 1957
LapsedIndia's annual tax of 1% on net wealth above ₹30 lakh, charged on a listed set of assets only: houses, cars, jewellery, yachts, aircraft, urban land and cash above ₹50,000. Shares and deposits were outside it.
Overview
Detailed overview not yet written. Until it is, the summary above and the sourced records below are what the register holds about this bill.
Official documents 1
From the records tracker for India: the bill, its debates, votes and committee reports, and whether each has been read in full.
- Other document · Act 27 of 1957 · Parliament of India
What the reading found
Found: Rate, threshold, asset list, exemptions
Not read: Schedules, valuation rules