Section 84 - Amendment of section 4 - Finance (No. 2) Act, 1991

Gift-tax 84. Amendment of section 4. In section 4 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), in sub-section (2), in clause (a), for the words market value of the property at the date of the transfer , the words and figures value of the property as on the date of the transfer and determined in the manner laid down in Schedule II, shall be substituted with effect from the 1st day of April, 1992.