Gift-tax inclusion of Special Bearer Bonds expands taxable property under amended section of the Gift-tax Act. The Gift-tax Act is amended by inserting clause (iiib) in section 5(1) to classify property in the form of Special Bearer Bonds, 1991 as property subject ... Summary
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Gift-tax inclusion of Special Bearer Bonds expands taxable property under amended section of the Gift-tax Act.
The Gift-tax Act is amended by inserting clause (iiib) in section 5(1) to classify property in the form of Special Bearer Bonds, 1991 as property subject to the Gift-tax Act, thereby adding Special Bearer Bonds to the statutory list of taxable property.
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