Section 85. Rule-making powers of the Board

(3) All rules made under this Act shall be laid before both Houses of Parliament as soon as may be after they are made. THE FIRST SCHEDULE (See section 5) States in which estate duty is leviable on agricultural land Bombay. Madhya Pradesh. Orissa. Punjab. Uttar Pradesh. Hyderabad. Madhya Bharat. Rajasthan. Saurashtra. All Part C States. | 4 [Assam | | --- | | Bihar] | | 2 [Travanrore-cochin] | | 3 [Madras] | | 4 [Andhra] | | 3 [Mysore] | | 6 [PEPSU] | THE SECOND SCHEDULE (See sections 5, 35 and 84) RATES OF ESTATE DUTY PART I In the case of property which consists of an interest in the joint family property of a Hindu family governed by the Mitakshara, Marumakkattayam or Aliyasantana law :— | State of Duty | Nil | | --- | --- | | (1) on the first Rs. 50,000 of the principal value of the estate | | | (2) on the next Rs. 50,000 | 5 per cent. | | (3) on the next Rs. 50,000 | 7½ | | (4) on the next Rs. 50,000 | 10 | | (5) on the next Rs. 1,00,000 | 12½ | | (6) on the next Rs. 2,00,000 | 15 | | (7) on the next Rs. 5,00,000 | 20 | | (8) on the next Rs. 10,00,000 | 25 | | (9) on the next Rs. 10,00,000 | 30 | | (10) on the next Rs. 20,00,000 | 35 | | (11) on the balance of the principal value of the estate | 40 | OF 19537 Estate Duty PART II In the case of property of any other kind— (2) The power to make rules conferred by this section shall, on the first occasion of the exercise thereof, include the power to give retrospective effect to the rules or any of them from a date not earlier than the date of the commencement of this Act. 85. Rule-making powers of the Board.—(1) Subject to the condition of previous publication and subject to the control of the Central Government, the Board may make rules not inconsistent with this Act prescribing all matters which by this Act are required or permitted to be prescribed, or which are necessary or convenient to be prescribed for carrying out the purposes of or giving effect to this Act. 290 38 Estate Duty PART 34 | Item | Rate of Duty | | --- | --- | | (1) on the first Rs. 1,00,000 of the principal value of the estate | Nil | | (2) on the next Rs. 50,000 | 7½ per cent. | | (3) on the next Rs. 50,000 | 10 | | (4) on the next Rs. 1,00,000 | 12½ | | (5) on the next Rs. 2,00,000 | 15 | | (6) on the next Rs. 5,00,000 | 20 | | (7) on the next Rs. 10,00,000 | 25 | | (8) on the next Rs. 10,00,000 | 30 | | (9) on the next Rs. 20,00,000 | 35 | | (10) on the balance of the principal value of the estate | 40 | PART III In the case of shares held by a deceased member in any such company as is referred to in sub-section (I) of section 84— | Item | Rate of Duty | | --- | --- | | (1) If the principal value of the shares does not exceed Rs. 5,000 | Nil | | (2) If the principal value of the shares exceeds Rs. 5,000 | 7½ per cent. |