Section 33: Liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:

Q: What does Section 33 of The Wealth-tax Act, 1957 (TWA) deal with?

Section 33 TWA pertains to "Liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:". It is part of the The Wealth-tax Act, 1957, a legislation enacted by the Parliament of India. Section 33 of The Wealth-tax Act, 1957 (TWA) governs liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:. As verified on 19 May 2026.

Q: Is Section 33 TWA still in force?

Yes, Section 33 of the The Wealth-tax Act, 1957 is currently in force across the Republic of India.

Q: What is धारा 33 TWA?

धारा 33 TWA is the Devanagari Hindi reference for Section 33 of the The Wealth-tax Act, 1957. Section 33 of The Wealth-tax Act, 1957 (TWA) governs liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:. As verified on 19 May 2026.

Q: What is Dhara 33 TWA?

Dhara 33 TWA is the Roman Hindi reference for Section 33 of the The Wealth-tax Act, 1957. "Dhara" means "Section" in Hindi. Section 33 of The Wealth-tax Act, 1957 (TWA) governs liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:. As verified on 19 May 2026.

Q: How to cite Section 33 of The Wealth-tax Act, 1957?

Cite as: "Section 33, The Wealth-tax Act, 1957 (TWA)" in legal briefs. For academic writing, use the BlueBook format: The Wealth-tax Act, 1957, § 33 (India).

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Thursday, 21 May 2026

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Table of Contents

The Wealth-tax Act, 1957

Chapter VIIP — ayment And Recovery Of Wealth-Tax

Section 33

Liability of transferees of properties in certain cases .-(1) Where by reason of the provisions contained in section 4, the value of any assets transferred to any of the persons mentioned in that section have to be included in the net wealth of an individual, the person in whose name such assets stand shall, notwithstanding anything contained in any law to the contrary, be liable, on the service of a notice of demand by the [Assessing Officer] in this behalf, to pay that portion of the tax assessed on the assessee as is attributable to the value of the asset standing in his name as aforesaid:

Provided that where any such asset is held jointly by more than one person, they shall be jointly and severally liable to pay the tax as is attributable to the value of the asset so jointly held.

(2)

Where any such person as is referred to in sub-section (1) defaults in making payment of any tax demanded from him, he shall be deemed to be an assessee in default in respect of such sum, and all the provisions of this Act relating to recovery shall apply accordingly.

Related Sections

§32

[ Mode of recovery

TWA

[ When tax, etc., payable and when assessee deemed in default

Printed from Law on Tips • The Wealth-tax Act, 1957

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