Exemption from levy of duty - 06(E) - Income Tax

Exemption from levy of duty Notification Number: 06(E) Dated 01/01/1985 Whereas the Central Government is of opinion that circumstances are such that some relief in addition to the reliefs provided in sub-section (1) of section 33 of the Estate Duty Act, 1953 (34 of 1953), should be given in respect of the following class of property belonging to the deceased which passes on his death and in respect of which estate duty is liable to be levied and collected under the said Act, namely, the moneys payable under the Central Government Employees Group Insurance Scheme, 1980, or under any other Group Insurance Scheme taken up by an employer with the Life Insurance Corporation of India for the benefit of his employees subject to the maximum limit of rupees eighty thousand only as available under the Central Government Employees Group Insurance Scheme, 1980, in existence on the date of publication on this notification in the Official Gazette. Now, therefore, in exercise of the powers conferred by sub-section (2) of section 33 of the Estate Duty Act, 1953 (34 of 1953), the Central Government hereby directs that no estate duty shall be payable in respect of the aforesaid class of property. File Number: 296/28/83-ED