Act Number: 18

Act Name: The Gift-tax Act, 1958

Year: 1958

Enactment Date: 1958-05-15

Long Title: An Act to provide for the levy of gift-tax

Ministry: Ministry of Finance

Department: Department of Revenue

Section 29: Gift-tax by whom payable.
1Subject to the provisions of this Act, gift-tax shall be payable by the donor but when in the opinion of the 2 Assessing Officer the tax cannot be recovered from the donor, it may be recovered from the donee:
Provided that where the donees are more than one, they shall be jointly and severally liable for the amount of tax determined to be payable by the donor:
Provided further that the amount of tax which may be recovered from each donee shall not exceed the value of the gift made to him as on the date of the gift.
Notes:
1. Ins. by Act 53 of 1962, s. 23 (w.e.f. 1-4-1963).
2. Subs. by Act 4 of 1988, s. 161, for Gift-tax Officer‖ (w.e.f. 1-4-1988).
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