Wealth tax - exemption of residential house property

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..... erred: 5(1)(iv) Statute: Wealth Tax Act, 1957 Under clause (iv) of Sub-section(1) of Section (1) of section 5 of the W.T.Act one house or part of a house belonging to the assessee is exempt fro .....

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..... tion has, therefore, arisen as to the meaning of the term 'house' occurring in section 5(i)(iv) after 1-4-72. The Board are advised that the term house in section 5(1)(iv) would refer not only to buil .....

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