Gift-tax amendment extends non-taxable gifts to property in specified Income-tax bonds and removes an explanatory clause. The Gift-tax amendment substitutes clause (iiie) to include property in the form of bonds specified under the Income-tax Act as falling within the ... Summary
Gift-tax amendment extends non-taxable gifts to property in specified Income-tax bonds and removes an explanatory clause.
The Gift-tax amendment substitutes clause (iiie) to include property in the form of bonds specified under the Income-tax Act as falling within the exclusion (subject to the proviso) and omits clause (a) of the Explanation to that sub-clause.
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