https://www.taxtmi.com/acts?id=50800 Insertion establishes a Additional gift-tax charge where assessed taxable gifts exceed returned taxable gifts; Assessing Officer must compute the excess and impose additional tax on that excess, with returns filed late or not at all treated as nil; adjustments following reassessment or appeals alter the additional tax, increased amounts trigger a demand notice and reductions entitle the assessee to refund, and the revenue authority may waive or reduce the additional tax in bona fide cases subject to disclosure, fee and timing constraints. en-us Tue, 15 Apr 2025 11:40:11 +0530 Tue, 02 Sep 2025 17:14:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=50800 Insertion establishes a Additional gift-tax charge where assessed taxable gifts exceed returned taxable gifts; Assessing Officer must compute the excess and impose additional tax on that excess, with returns filed late or not at all treated as nil; adjustments following reassessment or appeals alter the additional tax, increased amounts trigger a demand notice and reductions entitle the assessee to refund, and the revenue authority may waive or reduce the additional tax in bona fide cases subject to disclosure, fee and timing constraints. Act-Rules F. Acts / Amendment Acts Tue, 15 Apr 2025 11:40:11 +0530 https://www.taxtmi.com/acts?id=50800