Gift tax scope expanded to include funds deemed to be established under the amended provision. Insertion of the phrase "or deemed to be established" into clause (v) of sub section (1) of section 5 of the Gift tax Act, 1958 broadens the statutory ... Summary
Gift tax scope expanded to include funds deemed to be established under the amended provision.
Insertion of the phrase "or deemed to be established" into clause (v) of sub section (1) of section 5 of the Gift tax Act, 1958 broadens the statutory scope so that funds treated as established are included within the gift tax provision, thereby altering which transfers or interests in such funds fall within the gift tax regime.
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