Legislative Dictionary - G
Judicial Dictionary
Legislative Dictionary
Gift
| Category | G |
|---|---|
| Title | Gift |
| Details | "Gift" is the transfer of certain existing moveable or immoveable property made voluntarily and without consideration, by one person, called the donor, to another, called the donee, and accepted by or on behalf of the donee.
[See, section 122, the Transfer of Property Act, 1882 (Act No. IV of 1882)] "gift" means the transfer by one person to another of any existing movable or immovable property made voluntarily and without consideration in money or money's worth, and includes the transfer of any property deemed to be gift under section 4. [See, section 2(xii), the Gift-tax Act, 1963 (Act No. XIV of 1963)] [Now stands repealed by the Ordinance No. XXXII of 1985]. |
| Created On | August 27, 2011, 4:26 AM |
| Hits | 459 |