Amendment to Section 37 of Gift-tax Act Expands Information-Gathering Powers Beyond Tax Determination Purposes

The amendment to section 37 of the Gift-tax Act expands the scope of information-gathering powers. Previously limited to Gift-tax Officers determining tax payable, the provision now allows any gift-tax authority to obtain statements or information from any person or banking company when necessary for any purpose under the Act. The amendment also replaces references to "Gift-tax Officer" with "such gift-tax authority" in subsequent clauses, broadening the range of officials who can exercise these information collection powers.

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