Section 157 - Amendment of section 38 - Direct Tax Laws (Amendment) Act, 1987

157. Amendment of section 38. In section 38 of the Wealth-tax Act, - (a) for the words Where, for the purposes of determining the wealth-tax payable by any person , the words Where, for the purposes of this Act shall be substituted; (b) for the words the Wealth-tax Officer , in the first place where they occur, the words any wealth-tax authority and, in the second and third places where they occur, the words such wealth-tax authority shall be substituted; (c) after the words from any individual, company , the brackets and words (including a banking company) shall be inserted.