1539. Additional relief of gold, gold coin, gold ornament tendered within 6 months of the date of death of deceased as subscription for issue of Gold Bonds, 1977 – Notification issued under sub-section (2) granting reduction in principal value of estate

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 where any gold, gold coin or gold ornament, forming part of the estate of a deceased person, is tendered within six months of the date of the death of the deceased, as subscription for the issue of 6 ½ per cent Gold Bonds, 1977, then the principal value of the estate of the deceased shall be reduced by the amount representing the difference between the market price, on the date of death of the deceased, of the gold, gold coin or gold ornament accepted as subscription for the Bonds issued and the market value of such Bonds on the date of their issue.

Notification : No. GSR 337, dated 22-2-1963.

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