CHAPTER III
WEALTH-TAX AUTHORITIES
Wealth-tax authorities and their jurisdiction.
8. The income-tax authorities specified in section 116 of
the Income-tax Act shall be the wealth-tax authorities for the purposes
of this Act and every such authority shall exercise the powers and
perform the functions of a wealth-tax authority under this Act in
respect of any individual, Hindu undivided family or company, and for
this purpose his jurisdiction under this Act shall be the same as he has
under the Income-tax Act by virtue of orders or directions issued under
section 120 of that Act (including orders or directions assigning
concurrent jurisdiction) or under any other provision of that Act.
Explanation.—For the purposes of this section, the
wealth-tax authority having jurisdiction in relation to a person who is
not an assessee within the meaning of the Income-tax Act shall be the
wealth-tax authority having jurisdiction in respect of the area in which
that person resides.