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TypeBare Act JurisdictionCentral Government

Finance Act, 1993 Section 41

Amendment of Section 5

~1 min read
https://sooperkanoon.com/act/49678

Bare act section · Research

About this section

Finance Act, 1993 Section 41 is part of Finance Act, 1993 - Amendment of Section 5. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 5 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), -

(a) in sub-section (1), -

(i) after clause (iid), the following clause shall be inserted, namely :-

'(iie) being an individual who is a non-resident Indian, once out of the moneys standing to his credit in an account opened and operated in accordance with the Non-resident (Non-repatriable) Rupee Deposit Scheme, 1992.

Explanation : For the purposes of this clause, "non-resident Indian" shall have the meaning assigned to it in clause (e) of section 115C of the Income-tax Act;';

(ii) in clause (vii), for the words "ten thousand", the words "thirty thousand" shall be substituted with effect from the 1st day of April, 1994;

(b) in sub-section (2), for the words "twenty thousand", the words "thirty thousand" shall be substituted with effect from the 1st day of April, 1994.

Frequently asked questions

What does Finance Act, 1993 Section 41 provide?

Section Section 41 of the Finance Act, 1993 (Amendment of Section 5) is reproduced on this page as part of the Finance Act, 1993. 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, 1993 Section 41?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1993 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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