Section 95 - Amendment of section 21A - Finance Act, 1992

95. Amendment of section 21A In section 21A of the Wealth-tax Act, with effect from the 1st day of April, 1993, - (a) for the words, brackets and figures Notwithstanding anything contained in clause (i) of sub-section (1) of section 5, where any property is held , the words Where any property is held shall be substituted; (b) the words, brackets and figures but without excluding the value of any asset under sub-section (1) of section 5, and at the maximum marginal rate shall be omitted; (c) the second proviso shall be omitted; (d) in the third proviso, - (i) for the words Provided also that , the words Provided further that shall be substituted; (ii) in item (2), for the words and figures Part I of Schedule I in the case of an individual , the words, brackets and figures sub-section (2) of section 3 shall be substituted; (e) in the Explanation, clause (aa) shall be omitted.