An Act to provide for the levy of gift-tax.

This levy is no longer charged. No gift-tax is charged on a gift made on or after 1 October 1998. Section 3(3), inserted by the Finance (No. 2) Act, 1998, says the Act shall have no effect for such a gift. The Act is not repealed and still governs gifts made before that date.

Act 18 of 1958 Enacted 15 May 1958 In force 01 Apr 1958 Department Department of Revenue

Administered by. Ministry of Finance, Department of Revenue · Other Acts of 1958

What this Act covers

Gift-tax is no longer charged. Section 3(3), inserted by the Finance (No. 2) Act, 1998, provides that the Act shall cease to apply and shall have no effect whatsoever in respect of any gift made on or after 1 October 1998. The Act has not been repealed and still governs gifts made before that date.

Sections

Type to filter. 81 sections.

1. 1Short title, extent and commencement
2. 2Definitions
3. 3Charge of gift-tax
4. 4Gifts to include certain transfers
5. 5Exemption in respect of certain gifts
6. 6Value of gifts, how determined
7. 6AAggregation of gifts made during a certain period
8. 7Gift-tax authorities and their jurisdiction
9. 7APowers of Commissioner respecting specified areas, cases, persons, etc
10. 7AAConcurrent jurisdiction of Inspecting Assistant Commissioner and Gift-tax Officer
11. 7BPower to transfer cases
12. 8Control of gift-tax authorities
13. 8ACommissioners of gift-tax Appeals
14. 9Instructions to subordinate authorities
15. 9ADirectors of Inspection
16. 10Jurisdiction of Assessing Officers and power to transfer cases
17. 11Inspector of Gift-tax
18. 11ACommissioner competent to perform any function or functions
19. 11AAGift-tax Officer competent to perform any function or functions
20. 11BControl of gift-tax authorities
21. 12Gift-tax authorities to follow orders, etc., of the Board
22. 12APower of [Chief Commissioner or Commissioner] and of [ [Joint Commissioner] to make enquiries under this Act
23. 13Return of gifts
24. 14Return after due date and amendment of return
25. 14AReturn by whom to be signed
26. 14BSelf-assessment
27. 15Assessment
28. 16Gift escaping assessment
29. 16ATime limit for completion of assessment and re-assessment
30. 16BInterest for defaults in furnishing return of gifts
31. 17Penalty for failure to furnish returns, to comply with notices and concealment of gifts, etc
32. 17APenalty for failure to answer questions, sign statements, furnish information, allow inspections, etc
33. 18Rebate on advance payments
34. 18ACredit for stamp duty paid on instrument of gift
35. 19Tax of deceased person payable by legal representative
36. 19AAssessment of persons leaving India
37. 20Assessment after partition of a Hindu undivided family
38. 21Liability in case of discontinued firm or association of persons
39. 21AAssessment of donee when the donor cannot be found
40. 22Appeal to the [ Deputy Commissioner (Appeals)] from orders of [Assessing Officer
41. 22AApplication by the assessee in certain cases
42. 23Appeal to the Appellate Tribunal
43. 24Powers of Commissioner to revise orders of subordinate authorities
44. 25Appeal to the Appellate Tribunal from orders of enhancement by [Chief Commissioner or Commissioner
45. 26Reference to High Court
46. 27Hearing by High Court
47. 28Appeal to Supreme Court
48. 28ATax to be paid notwithstanding reference, etc
49. 28BDefinition of High Court
50. 29Gift-tax by whom payable
51. 30Gift-tax to be charged on property gifted
52. 31Notice of demand
53. 32Recovery of tax and penalties
54. 33Mode of recovery
55. 33ARefunds
56. 34Rectification of mistakes
57. 35Prosecution
58. 35AOffences by companies
59. 35BOffences by Hindu undivided families
60. 35CSection 360 of the Code of Criminal Procedure, 1973 and the Probation of Offenders Act, 1958, not to apply
61. 35DPresumption as to culpable mental state
62. 35EProof of entries in records or documents
63. 36Power regarding discovery, production of evidence, etc
64. 37Power to call for information
65. 38Effect of transfer of authorities on pending proceedings
66. 39Computation of period of limitation
67. 40Service of notice
68. 41Prohibition of disclosure of information
69. 41APublication of information respecting assessees
70. 41BDisclosure of information respecting assessees
71. 41CReturn of gifts, etc., not to be invalid on certain grounds
72. 42Bar of suits in civil court
73. 43Appearance before gift-tax authorities by authorised representatives
74. 43AAppearance by registered valuer in certain matters
75. 44Agreement for avoidance or relief of double taxation with respect to gift-tax
76. 44ARounding off of taxable gifts
77. 44BRounding off of tax, etc
78. 45Act not to apply in certain cases
79. 46Power to make rules
80. 46APower to make exemption, etc., in relation to certain Union territories
81. 47Power to remove difficulties

Schedules

This Act has 2 schedules. A schedule is published as a document of its own; the text is reproduced on its page where it has been read, and the document is mirrored here either way.

• SCHEDULE I360 words
• SCHEDULE II2,209 words

Related Acts

• The International Finance Corporation (Status, Immunities and Privileges) Act, 19584 sections
• The Wealth-tax Act, 1957140 sections
• The Life Insurance Corporation Act, 195679 sections
• The Securities Contracts (Regulation) Act, 195678 sections
• The Central Sales Tax Act, 195633 sections
• The International Development Association (Status, Immunities and Privileges) Act, 19605 sections
• The Income-tax Act, 1961821 sections
• The State Bank of India Act, 195569 sections

Provenance. Recovered from the consolidated text published by India Code on the Act's own item (c68c5249-54dd-4d0c-ad5d-acc5479e81dc). India Code lists this Act but publishes no sections for it, so there was nothing to harvest, only a document to read.

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Every one of the 81 sections of this Act has its own page. This page is not a substitute for legal advice.