Section 15(5)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976

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Union of India - Subsection

Section 15(5)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976

(b)in a case falling under clause (b) of sub-section (1),--

(i)where no assessment has been made in pursuance of the return of net wealth furnished by the declarant, the wealth-tax payable on the aggregate of the net wealth returned and the value declared under that clause for that year as if such aggregate were the net wealth, as reduced by the wealth-tax payable on the basis of the net wealth returned;

(ii)where an assessment has been made in pursuance of the return of net wealth furnished by the declarant, the wealth-tax payable on the aggregate of the net wealth as assessed and the value declared under that clause for that year as if such aggregate were the net wealth, as reduced by the wealth-tax payable on the net wealth as assessed.

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Union of India - Subsection

Section 15(5)(b) in The Voluntary Disclosure Of Income And Wealth Act, 1976