https://www.taxtmi.com/acts?id=50325 The Gift tax Act is amended to omit the phrase excluding transfers "not involving the carrying on of any activity for profit" from the definitional clause formerly in clause (va) of section 2; that omission is to be treated as having retrospective effect, changing the Act's scope by removing the profit activity limitation on exempt transfers. en-us Thu, 06 Mar 2025 18:25:59 +0530 Thu, 06 Mar 2025 18:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50325 The Gift tax Act is amended to omit the phrase excluding transfers "not involving the carrying on of any activity for profit" from the definitional clause formerly in clause (va) of section 2; that omission is to be treated as having retrospective effect, changing the Act's scope by removing the profit activity limitation on exempt transfers. Act-Rules F. Acts / Amendment Acts Thu, 06 Mar 2025 18:25:59 +0530 https://www.taxtmi.com/acts?id=50325