Gift-Tax Act, 1958
Section - 5 - Exemption in respect of certain gifts
Exemption in respect of certain gifts.495. (1) Gift-tax shall not be charged under this Act in respect of gifts made by any person-
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| (i) | - | of immovable property situate outside the territories to which this Act extends; |
| (ii) | - | of movable property situate outside the said territories unless the person- |
| (a) | - | being an individual, is a citizen of India and is ordinarily resident in the said territories, or |
| (b) | - | not being an individual, is resident in the said territories during the previous year in which the gift is made; |
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