Clarification in respect of valuation of gifts of shares/debentures on or after 1-4-1992 under the Gift-tax Act, 1958, in view of the omission of Part C of Schedule III to the Wealth-tax Act, 1957
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Valuation of gifted shares and debentures continues under Part C valuation rules despite its omission for wealth-tax purposes. Omission of Part C of the wealth-tax schedule does not change how shares and debentures are valued for gift-tax purposes; for the limited purpose of the gift-tax regime, Part C is to be treated as if still on the statute and valuation of these securities shall continue to follow its rules.
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.
Valuation of gifted shares and debentures continues under Part C valuation rules despite its omission for wealth-tax purposes.
Omission of Part C of the wealth-tax schedule does not change how shares and debentures are valued for gift-tax purposes; for the limited purpose of the gift-tax regime, Part C is to be treated as if still on the statute and valuation of these securities shall continue to follow its rules.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.