# The Finance Act, 1986, Section 42: Amendment of section 5

- Act: The Finance Act, 1986 (Act 23 of 1986)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1986/section/42/

## Text

Amendment of section 5. 42. In section 5 of the Gift-tax Act. with effect from the 1st day of April, 1987,— (a) in sub-section (2) clauses (iiia), (vi), (viii), (ix),(xiv) and (xvi) shall be omitted; (b) in sub-section (1A), the words, brackets and figures "or clause (vi)" shall be omitted; (c) in sub-section (2), for the words "five thousand", the words "twenty thousand" shall be substituted; (d) sub-section (3) shall be omitted. [Finance Act, 1986] © Copyright. Taxmann Publications Pvt. Ltd.

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