https://www.taxtmi.com/acts?id=45781 A new section mandates aggregation of taxable gifts made to the same donee in the relevant previous year and any of the four immediately preceding years; tax is computed on the aggregate under the Schedule, with deductions to exclude pre cutoff gifts and amounts corresponding to gift tax previously paid for prior assessment years, while ensuring the resulting tax is not lower than tax computed without aggregation. en-us Tue, 03 Dec 2024 15:54:57 +0530 Tue, 03 Dec 2024 15:54:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45781 A new section mandates aggregation of taxable gifts made to the same donee in the relevant previous year and any of the four immediately preceding years; tax is computed on the aggregate under the Schedule, with deductions to exclude pre cutoff gifts and amounts corresponding to gift tax previously paid for prior assessment years, while ensuring the resulting tax is not lower than tax computed without aggregation. Act-Rules F. Acts / Amendment Acts Tue, 03 Dec 2024 15:54:57 +0530 https://www.taxtmi.com/acts?id=45781