Section 53 - Amendment of section 4 - Taxation Laws (Amendment) Act, 1984

CHAPTER III AMENDMENTS TO THE WEALTH-TAX ACT, 1957 53. Amendment of section 4. In section 4 of the Wealth-tax Act, 1957 (27 of 1957) (hereafter in this Chapter referred to as the Wealth-tax Act) in sub-section (1), in clause (a). (a) in sub-clause (v), the word or shall be inserted at the end; (b) after sub-clause (v), the following sub-clause shall be inserted, namely: (vi) by a person or association of persons to whom such assets have been transferred by the individual, directly or indirectly, on or after the 1st day of June, 1973, otherwise than for adequate consideration for the immediate or deferred benefit of the son s wife, or the son s minor child, of such Individual or both, .