Additional credit of 10% of the gift-tax paid u/s 18 of the Gift -Tax Act.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... NO. 1062/CBDT Dated : May 28, 1977 Section(s) Referred: 18 ,18A Statute: Gift Tax Act, 1958 Attention is invited to instruction No.1039 (F.No.340/2/74-GT), dated 21-2-77 on the subject me....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....t, 1975. Under section 18 as amended by the Taxation Laws (Amendment) Act, 1975, with effect from 1.4.75, the assessee is to be given additional credit for a sum equal to one-ninth of the gift-tax pai....