Value of gifts, how determined

Q: When did Section 6 of the Gift-tax Act come into force?

Section 6 of the Gift-tax Act, cited as Gift Tax Act 6, 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.

Spent From 01 Apr 1958 Act 18 of 1958 As on 17 Oct 2026

Act 18 of 1958 Ministry Finance Enacted 15 May 1958 In force 01 Apr 1958 Cited by 1 provision

Section 6 of the Gift-tax Act, 1958 deals with value of gifts, how determined. Subject to the provisions of sub-section (2), the value of any property, other than cash, transferred by way of gift shall, for the purpose of this Act, be its value as on the date on which the gift was made and shall be determined in the manner laid down in Schedule II. The Act came into force on 01 Apr 1958.

(1) Subject to the provisions of sub-section (2), the value of any property, other than cash, transferred by way of gift shall, for the purpose of this Act, be its value as on the date on which the gift was made and shall be determined in the manner laid down in Schedule II.
(2) Where a person makes a gift which is not revocable for a specified period, the value of the property gifted shall be the capitalised value of the income from such property during the period for which the gift is not revocable.]
Section 6, 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.

Referred to by 1

s. 15 Assessment

Questions about Section 6

What does Section 6 of the Gift-tax Act deal with?

Section 6 of the Gift-tax Act is headed "Value of gifts, how determined". Subject to the provisions of sub-section (2), the value of any property, other than cash, transferred by way of gift shall, for the purpose of this Act, be its value as on the date on which the gift was made and shall be determined in the manner laid down in Schedule II.

How do I find court cases under Section 6 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 6, section 6 Gift Tax Act, section 6 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 6 of the Gift-tax Act, and has it changed?

1 other provision in this corpus refers back to it.

When did Section 6 of the Gift-tax Act come into force?

Section 6 of the Gift-tax Act, cited as Gift Tax Act 6, 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.