Gift tax exemptions altered: Section 5 amended to remove specified clauses, raise threshold, and omit a sub section. Section 5 of the Gift tax Act is amended effective 1 April 1987: specified clauses (iiia), (vi), (viii), (ix), (xiv) and (xvi) in sub section (1) are omitted; the words 'or clause (vi)' are omitted from sub section (1A); sub section (2)'s figure 'five thousand' is substituted with 'twenty thousand'; and sub section (3) is omitted.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Gift tax exemptions altered: Section 5 amended to remove specified clauses, raise threshold, and omit a sub section.
Section 5 of the Gift tax Act is amended effective 1 April 1987: specified clauses (iiia), (vi), (viii), (ix), (xiv) and (xvi) in sub section (1) are omitted; the words "or clause (vi)" are omitted from sub section (1A); sub section (2)'s figure "five thousand" is substituted with "twenty thousand"; and sub section (3) is omitted.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
