Section 49 - Amendment of Act 34 of 1953 - Finance Act, 1964

49. Amendment of Act 34 of 1953 In the Estate Duty Act, 1953,- (a) in section 5A, the following amendments shall be made and shall be deemed to have been made with effect from the 23rd day of September, 1963, namely:- (i) in sub-section (2), the word Orissa, shall be omitted; (ii) in sub-section (3), the words in the State of Orissa and shall be omitted; (b) in section 33, in sub-section (1), after clause (m), the following clause shall be inserted, namely:- (n) one house or part thereof exclusively used by the deceased for his residence, to the extent the principal value thereof does not exceed rupees one lakh if such house is situate in a place with a population exceeding ten thousand, and the full principal value thereof in any other case. ; (c) in section 34, in clause (sic) of sub-section (sic) for the brackets, letters and word (l) and (m) , the brackets, letters and word (l), (m) and (n) shall be substituted: (d) in section 50, the words one-half of shall be omitted; (e) in section 78, after the words lie, against , the words the Government or shall be inserted; (f) for section 80, the following sections shall be substituted, namely:- 80. Disclosure of information respecting assessments. Where a person makes an application to the Controller in the prescribed form for any information in respect of any assessment made under this Act, the Controller may, if he is satisfied that it is in the public interest so to do, furnish or cause to be furnished the information asked for in respect of that assessment only and his decision in this behalf shall be final and shall not be called in question in any court of law. 80A. Publication of information respecting accountable persons. (1) If the Central Government is of opinion that it is necessary or expedient in the public interest to publish the names of any accountable persons and any other particulars relating to any proceedings under this Act in respect of such persons, it may cause to be published such names and particulars in such manner as it thinks fit. (2) No publication under this section shall be made in relation to any penalty imposed under this Act until the time for presenting an appeal to the Appellate Controller has expired without an appeal having been presented or the appeal, if presented, has been disposed of. ; (g) in the Second Schedule, for Part I, the following Part shall be substituted, namely:- Part I In the case of any property which passes or is deemed to pass on the death of the deceased- Rate of duty (1) On the first Rs. 50,000 of the principal value of the estate Nil (2) On the next Rs. 50,000 of the principal value of the estate 4% (3) On the next Rs. 1,00,000 of the principal value of the estate. 8% (4) On the next Rs. 3,00,000 of the principal value of the estate 15% (5) On the next Rs. 5,00,000 of the principal value of the estate 25% (6) On the next Rs. 5,00,000 of the principal value of the estate 40% (7) On the next Rs. 5,00,000 of the principal value of the estate 50% (8) On the balance of the principal value of the estate 85% .