7. The following amendments shall be made in the Wealth-tax Act, 1963 (XV of 1963), namely:- (1) in section 2,- (a) in clause (b), for the words, figure and letter “appointed under section 5A of the Income-tax Act” the words and figure “established under section 11 of the Income Tax Ordinance” shall the substituted; (b) in clause (h), for the words, brackets, figures and letter “clause (5A) of section 2 of the Income-tax Act” the words, brackets and figures “clause (20) of section 2 of the Income Tax Ordinance” shall be substituted; (c) clause (1A) shall be omitted; (d) for clause (j) the following shall be substituted, namely:- “(j) “Income Tax Ordinance” means the Income Tax Ordinance, 1984 (XXXVI of 1984);”; (e) in clause (00), for the words “Income-tax Act” the words “Income Tax Ordinance” shall be substituted; (f) clause (000) shall be omitted; (g) for clause (p) the following shall be substituted, namely:- “(p) “valuation date”, in relation to any year for which an assessment is to be made under this Act, means the last day of the income year as defined in clause (35) of section 2 of the Income Tax Ordinance if an assessment were to be made under that Ordinance for that year: Provided that where in the case of an assessee there are different income years under the Income Tax Ordinance for different sources of income, the valuation date for the purposes of this Act shall be the last day of the last of the income years aforesaid;”; (h) in clause (s), for the words, comma and figure “Income-tax Act, 1922” the words “Income Tax Ordinance” shall be substituted; (2) in section 5, in sub-section (1),- (a) in clause (i), for the words “taxable territories” the word “Bangladesh” shall be substituted; (b) in clause (x), for the words, figure and letter “Chapter IXA of the Income-tax Act” the words and letter “Part B of the First Schedule to the Income Tax Ordinance” shall be substituted; (3) in section 5A, in clause (1), for the words, comma and figure “Income-tax Act, 1922” the words “Income Tax Ordinance” shall be substituted; (4) for section 6 the following shall be substituted, namely:- “6. Exclusion of assets and debts outside Bangladesh.- In computing the net wealth of an individual or a Hindu undivided family not resident in Bangladesh during the year ending on the valuation date- (a) the value of the assets an debts located outside Bangladesh; and (b) the value of the assets in Bangladesh represented by any loans or debts owing to the assessee in any case where the interest, if any, payable on such loans or debts is exempt from tax under a notification issued under clause (b) of sub-section (4) of section 44 of the Income Tax Ordinance, shall not be taken into account. Explanation.-An individual or a Hindu undivided family shall be deemed to be not resident in Bangladesh during the year ending on the valuation date if in respect of that year the individual or the Hindu undivided family, as the case may be, is not resident in Bangladesh within the meaning of the Income Tax Ordinance.”; (5) in section 7, in sub-section (2), in clause (b), for the words “taxable territories”, wherever occurring, the word “Bangladesh” shall be substituted; (6) in section 8, in sub-section (1), for the words “Income-tax Act”, wherever occurring, the words “Income Tax Ordinance” shall be substituted; (7) in section 22, for the words “taxable territories”, wherever occurring, the word “Bangladesh” shall be substituted; (8) in section 23, in sub-section (1), in clause (f), for the words, brackets and figures “sub-section (1) of section 46 of the Income-tax Act” the words, brackets and figures “sub-section (1) of section 137 of the Income Tax Ordinance” shall be substituted; (9) in section 24, in sub-section (11),- (a) for the words, brackets, figures, comma and letter “sub-sections (5), (7) and (8) of section 5A of the Income-tax Act” the words, figures and comma “sections 12, 13 and 15 of the Income Tax Ordinance” shall be substituted; (b) for the words “Income-tax Act” occurring at the end the words “Income Tax Ordinance” shall be substituted; (10) in section 31, in sub-section (2), for the words “taxable territories”, wherever occurring, the word “Bangladesh” shall be substituted; (11) in section 31A, for the words, figures, letter, comma and brackets “section 43A of the Income-tax Act, 1922 (XI of 1922)” the words “section 98 of the Income Tax Ordinance” shall be substituted; (12) for section 32, the following shall be substituted, namely:- “32. Mode of recovery.- The provisions of sections 134, 137, 138, 139, 140, 141, 142 and 143 of the Income Tax Ordinance shall apply as if the said provisions were provisions of this Act and referred to Wealth-tax and sums imposed by way of penalty under this Act, instead of to income tax and sums imposed by way of penalty under that Ordinance, and to Deputy Commissioner of Taxes and Commissioner of taxes under this Act instead of to Deputy Commissioner of Taxes and Commissioner of Taxes under that Ordinance.”; (13) for section 42 the following shall be substituted, namely:- “42. Prohibition of disclosure of information.-(1) Subject to the provisions contained in sub-section (2), the provisions of sections 163, 168 and sub-section (1) of section 169 of the Income Tax Ordinance shall apply to all accounts or in relation to statements, documents, evidence or affidavits given, produced or obtained in connection with or in the course of any proceeding under this Act as they apply to or in relation to similar particulars under that Ordinance. (2) Nothing contained in sections 163 and 168 of the Income Tax Ordinance shall apply to the disclosure of any such particulars as are referred to in sub-section (1) to any person acting in the execution of this Act or the Income Tax Ordinance or the Gift-tax Act, 1963 (XIV of 1963), where it is necessary or desirable to disclose the same to him for the purpose of this Act or of the other Act and the Ordinance aforesaid.”.