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[Cites 0, Cited by 0] [Section 16(1A)] [Section 16] [Entire Act]

Union of India - Subsection

Section 16(1A)(b) in The Gift-Tax Act, 1958

(b)in any other case,--
(i)if four years have elapsed from the end of the relevant assessment year, unless the case falls under sub-clause (ii) or sub-clause (iii);
(ii)if four years, but not more than seven years, have elapsed from the end of the relevant assessment year, unless the value of taxable gifts chargeable to tax which have escaped assessment amounts to or is likely to amount to rupees twenty-five thousand or more for that year;
(iii)if seven years, but not more than ten years, have elapsed from the end of the relevant assessment year, unless the value of taxable gifts chargeable to tax which have escaped assessment amounts to or is likely to amount to rupees fifty thousand or more for that year.