Gift in Kind above value of 50000 to become taxable from 1st Oct

Last updated: 30 September 2009

GIFTS OF PROPERTY (GIFTS-IN-KIND) ABOVE VALUE OF RS. 50,000 TO BECOME TAXABLE FROM 1ST OCTOBER 2009 The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds

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