Gold Bonds Immunities and Exemptions Act, 1993 Section 5 - Bare Act |
| State | Central Government |
| Year | 1993 |
| Section Title | Gold Bonds Not to Be Taken into Account in Certain Cases |
Without prejudice to the generality of the provisions of Section 4,
(a) The provisions of the Income-tax Act, 1961shall not apply to-
(i) Any interest accruing to the subscriber from the Gold Bonds;
(ii) Any long-term capital gains arising to the subscriber;
(b) The provisions of the Gift-tax Act, 1958 shall not apply where the gift of the Gold Bonds is made by a subscriber, being an individual, to his spouse, child or parent.