TMI BlogManner of acceptance or retention of foreign contribution by way of gifts or presentationsX X X X Extracts X X X X X X X X Extracts X X X X ..... 3. (1) Where any foreign contribution by way of gifts or presentation is made to a member of any Indian delegation, such person shall, within a period of thirty days of the receipt of such gift or presentation, furnish the following information in writing to the Secretary to the Government of India in the Ministry or the Department that has sponsored the programme, namely- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd the aggregate market value of such gifts or presentations exceed fifteen thousand rupees, he shall deposit all such gifts or presentations with the Secretary of such Ministry or Department. (2) Where a person receives any gift or presentation during his or her visit to any foreign country or territory outside India, he or she shall, within a period of 30 days from his or her return t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eign Port Office, in the Ministry of Finance. (5) If any question arises in respect of the assessment made under sub-rule (4), it shall be referred to the Secretary to the Government of India in the Ministry of Home Affairs who shall decide the same. (6) The market value of the gift or presentation as assessed under sub-rule (4) or as decided under sub-rule (5) shall be commu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturned to him for retention, on payment of the difference between the aggregate market value of such gifts or presentations as assessed under sub-rule (4) and five thousand rupees: Provided also that the option so exercised shall be final. - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagementindia - tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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