Gift tax rate increase modifies specified provisions of the Gift-tax Act, raising the statutory tax percentage. The Taxation Laws (Amendment) Act, 1967 amends the Gift-tax Act, 1958 by substituting the words "six per cent." with the words "nine per cent." in the ... Summary
Gift tax rate increase modifies specified provisions of the Gift-tax Act, raising the statutory tax percentage.
The Taxation Laws (Amendment) Act, 1967 amends the Gift-tax Act, 1958 by substituting the words "six per cent." with the words "nine per cent." in the specified sections, thereby increasing the statutory gift tax rate in those provisions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.