Section 5(1)(iv) in The Wealth- Tax Act, 1957

Central Government Act

(iv) 3[ one house or part of a house belonging to the assessee Provided that, where the value of such house or part exceeds one hundred thousand rupees, the amount that shall not

1. Ins. by Act 32 of 1971, s. 31 (w. e. f. 1- 4- 1972 ). 2 Subs. by Act 19 of 1970, s. 26, for certain words (w. e. f. 1- 4- 1971 ). 3 Subs. by s. 26, ibid., for" clause (iv)" (w. e. f. 1- 4- 1971 ). 4 Certain words omitted by Act 32 of 1971, s. 32 (w. e. f. 1- 4- 1972 ).

be included in the net wealth of the assessee under this clause shall be one hundred thousand rupees;]