Gift-tax amendment clarifies taxable gifts as the base and refines refund and cross-reference wording under section 33A. Amendments to section 33A of the Gift-tax Act substitute 'taxable gifts' for 'total income' in subsection (1), revise the refund wording in subsection (4B)(a) to a broader formulation, and insert an express cross-reference into subsection (4B)(c) to assessment-related subsections, thereby clarifying the taxable base and the procedural links governing refunds.
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Gift-tax amendment clarifies taxable gifts as the base and refines refund and cross-reference wording under section 33A.
Amendments to section 33A of the Gift-tax Act substitute "taxable gifts" for "total income" in subsection (1), revise the refund wording in subsection (4B)(a) to a broader formulation, and insert an express cross-reference into subsection (4B)(c) to assessment-related subsections, thereby clarifying the taxable base and the procedural links governing refunds.
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