Gift tax amendment raises the prescribed statutory fee in section 25(2), changing the statutory charge effective June 1981. The Finance Act, 1981 effects a textual substitution in section 25(2) of the Gift tax Act, replacing the earlier specified amount with a higher specified ... Summary
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Gift tax amendment raises the prescribed statutory fee in section 25(2), changing the statutory charge effective June 1981.
The Finance Act, 1981 effects a textual substitution in section 25(2) of the Gift tax Act, replacing the earlier specified amount with a higher specified amount; this substitution takes effect from 1 June 1981 and thereby alters the statutory charge set out in that sub section without adding procedural conditions.
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