Additional credit of 10% of the gift-tax paid u/s 18 of the Gift -Tax Act.

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..... Referred: 18 ,18A Statute: Gift Tax Act, 1958 Attention is invited to instruction No.1039 (F.No.340/2/74-GT), dated 21-2-77 on the subject mentioned above. 2. In the extract of the Law Ministry's .....

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..... (Amendment) Act, 1975, with effect from 1.4.75, the assessee is to be given additional credit for a sum equal to one-ninth of the gift-tax paid (instead of one-tenth allowed prior to the said amendmen .....

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