1535. Additional relief to property bequeathed to Jawahar Lal Nehru Memorial Fund – Notification issued under sub-section (2) granting full exemption from estate duty

Whereas the Central Government is of opinion that circumstances are such that some relief in addition to the reliefs provided in sub-section (1) of section 33 of the Estate Duty Act, 1953 (34 of 1953) should be given in respect of the following class of property, whether movable or immovable, namely, any property of a deceased :

(i)  bequeathed by the deceased to “Jawahar Lal Nehru Memorial Fund” being a fund notified under sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961); and

(ii)  which has actually been delivered, after the date of publication of this notification in the Official Gazette, to such fund—

 (a)  within a period of two years from the date of such notification ; or

 (b)  within a period of three years after the death of the deceased ; or

  (c)  within a period of two years from the date on which probate is, or letters of administration (with a copy of Will annexed) are granted in respect of the estate of the deceased testator; and

(iii)  on which estate duty has been levied and collected or is liable to be levied and collected under the Estate Duty Act, 1953 (34 of 1953) by virtue of the inclusion of such property in the estate of the deceased as property passing on his death ;

Now, therefore, in exercise of the powers conferred by sub-section (2) of section 33 of the Estate Duty Act, 1953 (34 of 1953), the Central Government hereby directs that no estate duty shall be payable in respect of such class of property.

Notification : No. GSR 165, dated 3-2-1984.

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Category : Income Tax (25343)
Type : Circulars (7537) Notifications/Circulars (30580)

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