Section 44 - Amendment of section 18 - Finance Act, 1986

44. Amendment of section 18 In section 18 of the Gift-tax Act, with effect from the 1st day of April, 1987,- (a) in the opening portion, for the words, figure and letter or, in a case where the provisions of section 6A are applicable to a gift, in the manner specified in that section , the words, brackets and figures or at the rate specified in sub-section (2) of section 3 shall be substituted; (b) in the Explanation, for the words, figure and letter in the manner specified in section 6A , at both the places where they occur, the words, brackets and figures at the rate specified in sub-section (2) of section 3 shall be substituted.