https://www.taxtmi.com/acts?id=10668 Receipts by an individual or Hindu undivided family on or after 1 October 2009 that are gratuitous or undervalued are treated as income where the aggregate value exceeds the statutory threshold: money, immovable property (valued at stamp duty value) and other property (valued at prescribed fair market value). Where stamp duty value is disputed, the Assessing Officer may refer valuation to a Valuation Officer and applicable valuation procedures apply. Specific exclusions and definitions for assessable value, fair market value, jewellery and property categories are provided. en-us Tue, 04 Aug 2009 17:12:35 +0530 Sat, 08 Aug 2009 13:02:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=10668 Receipts by an individual or Hindu undivided family on or after 1 October 2009 that are gratuitous or undervalued are treated as income where the aggregate value exceeds the statutory threshold: money, immovable property (valued at stamp duty value) and other property (valued at prescribed fair market value). Where stamp duty value is disputed, the Assessing Officer may refer valuation to a Valuation Officer and applicable valuation procedures apply. Specific exclusions and definitions for assessable value, fair market value, jewellery and property categories are provided. Act-Rules F. Acts / Amendment Acts Tue, 04 Aug 2009 17:12:35 +0530 https://www.taxtmi.com/acts?id=10668