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

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Full Text of the Document

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....rt C of Schedule III to the Wealth-tax Act, 1957 Circular No. 635 Dated 20/8/1992 Under the Gift-tax Act, 1958, the value of any property, other than cash, transferred by way of gift, shall be its value as determined in the manner laid down in Schedule II to the Gift-tax Act, where it had been stated that the value shall be determined in accordance with the provisions of Schedule III to the Wea....