8. The following amendments shall be made in the Wealth-tax Act, 1963 (XV of 1963), namely:- (1) in section 2, in clause (e), sub-clause (iii) shall, be omitted; (2) in section 5, in sub-section (1), in clause (xi), for the full stop at the end a semi-colon shall be substituted and thereafter the following new clause (xii) shall be added, namely:- “(xii) a house owned and occupied by an assessee for the purpose of his own residence, subject to the following limits, namely:- (a) where the value of such house does not ÔǪÔǪÔǪÔǪthe whole of such value; exceed Taka ten lakh, (b) where the value of such house exceeds Taka ten lakh, ÔǪÔǪÔǪ..Taka ten lakh.”; (3) for the Schedule the following shall be substituted, namely:-

	“THE SCHEDULE (See section 3) Rates of Wealth-tax
		Rate.
1.	On the first Taka five lakh of net wealth    ..	Nil
2.	On the next Taka five lakh of net wealth    ..	½ %
3.	On the next Taka five lakh of net wealth    ..	¾ %
4.	On the next Taka five lakh of net wealth    ..	1 %
5.	On the next Taka five lakh of net wealth    ..	1¼ %
6.	On the next Taka five lakh of net wealth    ..	1 ½  %
7.	On the next Taka five lakh of net wealth    ..	2 %
8.	On the balance of net wealth                       ..	2½ %