# The Finance Act, 1988, Section 67: Amendment of section 5

- Act: The Finance Act, 1988 (Act 26 of 1988)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1988/section/67/

## Text

Gift-tax Amendment of section 5 67. In section 5 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), In sub-section (1), after clause (iiic), the following clause shall be Inserted, namely: — "(iiid) being an individual or a Hindu undivided family, of property in the form of such Relief Bonds, as the Central Government may, by notification in the Official Gazette, specify in this behalf subject to a maximum of rupees five lakhs in value in the aggregate in one or more previous years: Provided that the exemption conferred by this clause shall be available only to a person who has initially subscribed to the said Bonds;". [Finance Act, 1988] © Copyright. Taxmann Publications Pvt. Ltd.

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