CHAPTER XI REVENUE ADMINISTRATION Sirsa seems to beinthe ...

Income Tn.-·The Indian Income Tax Act of 1922 hasbj;:en replaced by
the Income Tax Act of 1961 with effect from April 1,1962. Ihe co~ctions under
this Act during 1974-75.to 1980-81 were asun~er :__
Year Amount
---
(Rs.)
1974-75 3,89,276
1975-76 84,19,750
1976-77 82,30,825
1971-18 80,69,732
1978-19 77,31,672
1919-80 90,59,883
1980-81 86,20,000
Estate:Duty.-The Estate Duty Act, 1953 (34 of 1953) came into force on
October 15,1953. The duty is leviable on the estate of those dying after this date.
Proceedings for this levy have to be initiated within 5 years of the death but no
time has been fixed for the completion of assessment. The collection under this
Act during 1914-75 to 1980-81 were as follows :-
Year Amount
1974-75
(Rs.)
12,711
1975-76 37,626
1976-77 8,945
1917-78 11,521
1918-79 11,622
1979-80 69,879
1980-81 24,426
\
Wealth Tax.~The Wealth Tax Act, 1951, came into force from the
as&essment year 1957-58. In case of an individual the tax is leviable if the net
wealth exceeds Rs. 1 lakh, and in case of Hindu undivided family, if it exeeeds
Rs. 21akh. The collections under this Act for the year 1974-75 to 1980-81w~re
.as under- .
Year Amount
(Rs.)
1974-75
"
9,06,149
1975-16 5,06,105
1976-77 7,07,585
1977-78 6,98,090
1978-79 6,44,621
1979-80 70,024
1980-81 4,89,000
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