Relief from estate duty reduces duty where capital gains tax paid on a post death property transfer within the statutory period. Section 50B provides relief from estate duty where property transferred within two years of death has incurred capital gains tax, reducing estate duty proportionately to tax paid and proceeds applied; the Board may extend the two-year period for sufficient cause. Section 52 permits the Central Government to accept property in satisfaction of estate duty at an agreed price, vests the property in the Government on delivery, and directs that any excess price be applied in a specified order to other fiscal liabilities before paying any balance to the accountable person.
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.
Relief from estate duty reduces duty where capital gains tax paid on a post death property transfer within the statutory period.
Section 50B provides relief from estate duty where property transferred within two years of death has incurred capital gains tax, reducing estate duty proportionately to tax paid and proceeds applied; the Board may extend the two-year period for sufficient cause. Section 52 permits the Central Government to accept property in satisfaction of estate duty at an agreed price, vests the property in the Government on delivery, and directs that any excess price be applied in a specified order to other fiscal liabilities before paying any balance to the accountable person.
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