Gift-Tax Act, 1958
Schedule II - RULES FOR DETERMINING THE VALUE OF PROPERTY GIFTED6
5[SCHEDULE II][See section 6(1)]RULES FOR DETERMINING THE VALUE OF PROPERTY GIFTED6Value of gifted property, how to be determined.7[1. Subject to the provisions of rules 2 to 7, the value of any property], other than cash, transferred by way of gift shall, for the purposes of this Act, be determined in accordance with the provisions of Schedule III to 8[the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act)], which shall apply subject to the following modifications, namely :-In the said Schedule,-
| (a) | - | references by whatever form of words to the Wealth-tax Act shall be construed as references to this Act ; |
| (b) | - | in rule 5, the reference to the year ending on the valuation date shall be construed as a reference to the previous year as defined in this Act; |
| (c) | - | save as provided in clause (b), references to the valuation date shall be construed as references to the date on which the gift was made; |
Google Play store
Featured
28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLEST R SOOD & CO New Delhi CA Inter View Details
16 June 2026
Sr. Associate / Assistant Manager | TAS / FDDBoutique Investment Bank & Transaction Advisory Firm Gurgaon CA View Details
ARTICLESHIP
08 June 2026
Internal & Taxation ArticleO P Bagla & Co LLP New Delhi CA Inter View Details |
CAclubindia
