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Gift - Tax Act, 1958


4* [THE SCHEDULE

(See section 3)

RATES OF GIFT - TAX

  1. Where the value of all taxable 5 per cent of the value such gifts does not exceed Rs. 20,000 gifts;

  2. where the value of all taxable Rs. 1,000 plus 10 per cent. of gifts exceeds Rs. 20,000 but does the amount by which the value not exceed Rs. 50,000 of such gifts exceeds Rs. 20,000;

  3. where the value of all taxable Rs. 4,000 plus 15 per cent of gifts exceeds Rs. 50,000 but does the amount by which the value not exceed Rs. 1,00,000 of such gifts exceeds Rs. 50,000;

  4. where the value of all taxable Rs. 11,500 plus 20 per cent of gifts exceeds Rs. 1,00,000 but such amount by which the value does not exceed Rs. 2,00,000 of such gifts exceeds Rs. 1,00,000;

  1. Subs. by Act 53 of 1962, s. 36, for sub--section (4) (w.e.f.1-4-1963).

  2. Subs. by Act 19 of 1970, s. 27, for the Sch. (w.e.f. 1-4-1971).

  3. Subs. by Act 26 of 1974, for sub sec. (3) s. 19.4 Subs. by Act 41 of 1975, s. 123, for certain words (w.e.f. 1-4-1976).

  1. where the value of all taxable Rs. 31,500 plus 25 per cent. gifts exceeds Rs. 2,00,000 but of the amount by which the does not exceed Rs. 5,00,00 value of such gifts exceeds Rs. 2,00,000;

  2. where the value of all taxable Rs. 1,06,500 plus 30 per cent gifts exceeds Rs. 5,00,000 but of the amount by which the does not exceed Rs. 10,00,000 value of such gifts exceeds Rs. 5,00,000;

  3. where the value of all taxable Rs. 2,56,500 plus 40 per cent gifts exceeds Rs. 10,00,000 but of the amount by which the does not exceed Rs. 15,00,000 value of such gifts exceeds Rs. 10,00,000;

  4. where the value of all taxable Rs. 4,56,500 plus 50 per cent gifts exceeds Rs. 15,00,000 but of the amount by which the does not exceed Rs. 20,00,000 value of such gifts exceeds Rs. 15,00,000;

  5. where the value of all taxable Rs. 7,06,500 plus 75 per cent gifts exceeds Rs. 20,00,000 of the amount by which the value of such gifts exceeds
    Rs. 20,00,000.



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