Gift-tax exemption expanded to include one-time NRI non-repatriable rupee deposit withdrawals and raised exemption thresholds.

Amendment expands gift-tax exemption to permit a non-resident Indian a one-time withdrawal from accounts under the Non-resident (Non-repatriable) Rupee Deposit Scheme, 1992 (with the term non-resident Indian as defined in the Income-tax Act), and raises the monetary exemption amounts in section 5 by substituting higher figures with effect from the stated operative date.

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