Gift-tax Act : Charge of gift-tax. Indian Bare Acts :

Gift-tax Act,1958

Act No : 18

Section : Charge of gift-tax.

3. Charge of gift-tax. Subject to the other provisions contained in this Act, there shall be charged for every 1[assessment year] commencing on and from the 1st day of April, 1958, a tax (hereinafter referred to as Gift-tax) in respect of the gifts, if any, made by a person during the previous year (other than gifts made before the 1st day of April, 1957) at the rate or rates specified in the Schedule.