Section 17(1)(c) in The Gift-Tax Act, 1958

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Union of India - Subsection

Section 17(1)(c) in The Gift-Tax Act, 1958

(c)has concealed the particulars of any gift or deliberately furnished inaccurate particulars thereof, he or ii may, by order in writing, direct that such person shall pay way of penalty--

(ii)in the cases referred to in clause (b), in addition to the amount of gift-tax payable by him, a sum which shall not be less than one thousand rupees but which may extend to twenty-five thousand rupees for each such failure;

(iii)in the cases referred to in clause (c), in addition to any gift-tax payable by him, a sum which shall not be less than twenty per cent, but which shall not exceed one and half times the amount of the tax, if any, which would have been avoided if the return made by such person had been accepted as correct:

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Union of India - Subsection

Section 17(1)(c) in The Gift-Tax Act, 1958