TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Supreme Court: Entire Gifted Property Value Taxable if Donor Retains Benefit, Alters Estate Duty Act Section 10.</h1> The circular from the Central Board of Direct Taxes (CBDT) addresses the interpretation of Section 10 of the Estate Duty Act following a Supreme Court ruling. The Court clarified that when a donor retains possession or benefit of a gifted property, the entire property's value, not just the right to possession and enjoyment, should be included in the estate duty assessment. This ruling modifies previous instructions, emphasizing that if a donor leases back a gifted property, the entire property's value is subject to estate duty. Pending assessments should align with this interpretation, and completed assessments may be revisited under Section 59(b) where applicable.
TaxTMI 
TaxTMI 
