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TypeBare Act JurisdictionCentral Government

Finance Act, 1986 Section 41

Amendment of Section 3

~1 min read
https://sooperkanoon.com/act/13365

Bare act section · Research

About this section

Finance Act, 1986 Section 41 is part of Finance Act, 1986 - Amendment of Section 3. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), with effect from the 1st day of April, 1987, section 3 shall be renumbered as sub-section (1) thereof, and -

(a) in sub-section (1) as so renumbered, after the words, figures and letters "the 1st day of April, 1958,", the words, figures and letters "but before the 1st day of April, 1987," shall be inserted;

(b) after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely :-

"(2) Subject to the other provisions contained in this Act, there shall be charged for every assessment year commencing on and from the 1st day of April, 1987, gift-tax in respect of the gifts, if any, made by a person during the previous year, at the rate of thirty per cent. on the value of all taxable gifts.".

Frequently asked questions

What does Finance Act, 1986 Section 41 provide?

Section Section 41 of the Finance Act, 1986 (Amendment of Section 3) is reproduced on this page as part of the Finance Act, 1986. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 1986 Section 41?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1986 Section 41. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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