Section 4(1)(e) in The Gift-Tax Act, 1958

[Cites 0, Cited by 2] [Section 4(1)] [Section 4] [Entire Act]

Union of India - Subsection

Section 4(1)(e) in The Gift-Tax Act, 1958

(e)where a person who has an interest in property as a tenant for a term or for life or a remainder man surrenders or relinquishes his interest in the property or otherwise allows his interest to be terminated without consideration or for a consideration which is not adequate, the value of the interest so surrendered, relinquished or allowed to be terminated or, as the case may be, the amount by which such value exceeds the consideration received, shall be deemed to be a gift made by such person.

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Union of India - Subsection

Section 4(1)(e) in The Gift-Tax Act, 1958