Gift-Tax Act, 1958

Agreement for avoidance or relief of double taxation with respect to gift-tax.

44. ⁷¹[The Central Government may enter into an agreement with the Government of any reciprocating country-

(a)	-	for the avoidance or relief of double taxation with respect to gift-tax payable under this Act and under the corresponding law in force in the reciprocating country, or
(b)	-	for exchange of information for the prevention of evasion or avoidance of gift-tax chargeable under this Act or under the corresponding law in force in that country or investigation of cases of such evasion or avoidance, or
(c)	-	for recovery of tax under this Act and under the corresponding law in force in that country,

and may, by notification⁷² in the Official Gazette, make such provision as may be necessary for implementing the agreement.]

Explanation.-The expression "reciprocating country" for the purposes of this Act means any country which the Central Government may, by notification in the Official Gazette, declare to be a reciprocating country.