# The Finance Act, 1987, Section 90: Amendment of section 2

- Act: The Finance Act, 1987 (Act 11 of 1987)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1987/section/90/

## Text

Gift-tax Amendment of section 2 90. In section 2 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), in clause (xii), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely: — "Explanation- A transfer of any building or part thereof referred to in clause (iii), clause (iiia)or clause (iiib)of section 27 of the Income-tax Act by the person who is deemed under the said clause to be the owner thereof made Voluntarily and with out consideration in money or money's worth, shall be deemed to be a gift made by such person;". [Finance Act, 1987] © Copyright. Taxmann Publications Pvt. Ltd.

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