Charge of gift-tax
Section 3 of the Gift-tax Act, 1958 deals with charge of gift-tax. ] Subject to the other provisions contained in this Act, there shall be charged for every [assessment year] commencing on and from the 1st day of April, 1958, [but before the 1st day of April, 1987,] a tax (hereinafter referred to as gift-tax) in respect of the gifts, if any, made by a person during The Act came into force on 01 Apr 1958.
[(1)] Subject to the other provisions contained in this Act, there shall be charged for every [assessment year] commencing on and from the 1st day of April, 1958, [but before the 1st day of April, 1987,] a tax (hereinafter referred to as gift-tax) in respect of the gifts, if any, made by
a person during the previous year (other than gifts made before the 1st day of April, 1957), at the rate or rates specified in [Schedule I]. [(2) [Subject to the other provisions (including provisions for the levy of additional gift-tax) contained in this Act], there shall be charged for every assessment year commencing on and from the 1st day of April, 1987, gift-tax in respect of the gifts, if any, made by a person during the previous year, at the rate of thirty per cent. on the value of all taxable gifts.] [(3) Notwithstanding anything contained in sub-section (2), the provisions of this Act shall cease to apply and shall have no effect whatsoever in respect of any gift made on or after the 1st day of October, 1998.]
Section 3, The Gift-tax Act, 1958 (Act 18 of 1958).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 3
What does Section 3 of the Gift-tax Act deal with?
Section 3 of the Gift-tax Act is headed "Charge of gift-tax". ] Subject to the other provisions contained in this Act, there shall be charged for every [assessment year] commencing on and from the 1st day of April, 1958, [but before the 1st day of April, 1987,] a tax (hereinafter referred to as gift-tax) in respect of the gifts, if any, made by a person during
How do I find court cases under Section 3 of the Gift-tax Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Gift Tax Act 3, section 3 Gift Tax Act, section 3 of the Gift-tax Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 3 of the Gift-tax Act, and has it changed?
3 other provisions in this corpus refer back to it.
When did Section 3 of the Gift-tax Act come into force?
Section 3 of the Gift-tax Act, cited as Gift Tax Act 3, came into force on 01 Apr 1958, having been enacted on 15 May 1958. It is in force as at the date shown on this page.
Other sections of this Act
- 15. Assessment2057 words
- 5. Exemption in respect of certain gifts1521 words
- 2. Definitions1156 words
- 33A. Refunds1140 words
- 16. Gift escaping assessment1035 words
- 22. Appeal to the [ Deputy Commissioner (Appeals)] from orders of [Assessing Officer1003 words
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. 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. This page is not a substitute for legal advice.