Section 7 - Amendment of Act 18 of 1958 - Taxation Laws (Amendment And Miscellaneous Provisions) Act, 1965

7. Amendment of Act 18 of 1958 In section 5 of the Gift-tax Act, 1958, in sub-section (1), after clause (iii), the following clause shall be inserted, namely: - (iiia) of property in the form of National Defence Gold Bonds, 1980, not exceeding the value of such Bonds for an aggregate weight of five kilogrammes of gold in any previous year: Provided that the exemption conferred by this clause shall be available only to a person who has initially subscribed to the said Bonds; .