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Estate Duty Act, 1953 [Repealed] Complete Act - Bare Act

StateCentral Government
Year
Act Info:
Preamble1 - ESTATE DUTY ACT, 1953
Section1 - Short title, extent and commencement
Section2 - Definitions
Section3 - Interpretation
Section4 - Estate duty authorities
Section5 - Levy of estate duty
Section6 - Property within disposing capacity
Section7 - Interests ceasing on death
Section8 - Gifts
Section9 - Gifts within a certain period before death
Section10 - Gifts whenever made where donor not entirely excluded
Section11 - Limited interests disposed of within a certain period before death
Section12 - Settlements with reservation
Section13 - Joint investments
Section14 - Policies kept up for a donee
Section15 - Annuity or other interest purchased or provided by the deceased
Section16 - Annuity or other interest purchased or provided out of property derived from the deceased
Section17 - Property transferred to a controlled company
Section18 - Duty of company and officers of company to give information to Controller on death of transferor
Section19 - Collection and incidence of duty under section 17
Section20 - Power to make rule respecting controlled companies generally
Section21 - Foreign property
Section22 - Property held by the deceased as trustee
Section23 - Interest failing before becoming an interest in possession
Section24 - Property reverting to disponer
Section25 - Income of settled property acquired on death of spouse
Section26 - Property passing by reason of a bona fide purchase for full or partial consideration in money
Section27 - Dispositions in favour of relatives
Section28 - Effect of new or increased rates of duty on certain prior sales and mortgages
Section29 - Settled property in respect of which since the date of the settlement estate duty has been paid on the death of the deceaseds spouse
Section30 - Agreement for avoidance or relief of double taxation with respect to estate duty
Section31 - Allowance for quick succession to property
Section32 - Exemption of interest of a Hindu widow devolving upon reversioners in certain cases
Section33 - Exemptions
Section34 - Aggregation
Section35 - Rates of estate duty on property including agricultural land
Section36 - Principal value how to be estimated
Section37 - Valuation of shares in a private company where alienation in restricted
Section38 - Valuation of interests in expectancy
Section39 - Valuation of interest in coparcenary property ceasing on death
Section40 - Valuation of benefits from interests ceasing on death
Section41 - Valuation to be made by the Controller
Section42 - Costs of valuation
Section43 - Controller may accept and certify valuation when convenient
Section44 - Reasonable funeral expenses, and with some exceptions, debts and incumbrances to be allowed for in determining chargeable value of estate
Section45 - Limitations on debts deductible
Section46 - Further limitations
Section47 - Debts to persons resident in foreign country not to be deducted in first instance except from duty-paid property in that country
Section48 - Cost of realising or administering foreign property may be allowed for within certain limits
Section49 - Allowance for duty paid in a non-reciprocating country
Section50 - Relief from estate duty where court-fees have been paid for obtaining representation to estate of deceased
Section51 - Method of collection of duty
Section52 - Payment of duty may be accepted in prescribed Government securities
Section53 - Persons accountable, and their duties and liabilities
Section54 - Persons accountable may include trustees in certain cases
Section55 - Every person believed to be in possession to deliver statement of particulars of property as required by Controller
Section56 - Penalty for default
Section57 - Executor to specify all chargeable property with affidavit of valuation
Section58 - Estate duty when due and how and when to be collected
Section59 - Limitation for commencing proceedings for levy of estate duty
Section60 - Duty to be paid or security for payment furnished on delivery of account and certificate to be granted thereupon
Section61 - Controllers powers in respect of valuations
Section62 - Rectification of mistakes relating to valuation for estate duty
Section63 - Appeal against determination by Controller
Section64 - Statement of case by the Board to High Court
Section65 - Case to be heard by Benches of High Courts and appeal to lie in certain cases to the Supreme Court
Section66 - Grant of representation not to be delayed on reference to High Court
Section67 - Certificate of payment of duty and penalty for non-payment
Section68 - Commutation of duty in respect of interest in expectancy
Section69 - Assessment in complicated cases
Section70 - Controller may allow postponement of payment on terms
Section71 - Board may remit duty and interest outstanding after twenty years from death
Section72 - Forms
Section73 - Recovery of duty and penalties
Section74 - Estate duty a first charge on property liable thereto
Section75 - Discharge from estate duty in certain cases
Section76 - Person accountable to be repaid by trustees and owners in certain cases
Section77 - Facilities for paying duty or raising amount already paid
Section78 - Jurisdiction of Courts barred in certain cases
Section79 - Power to take evidence on oath etc.
Section80 - Disclosure of information by a public servant
Section81 - Arrangements with States to supply information
Section82 - Service of Notices
Section83 - Appearance by authorised representatives
Section84 - Company to furnish particulars of deceased members to the controller
Section85 - Rule-making powers of the Board
ScheduleI - FIRST SCHEDULE
ScheduleII - SECOND SCHEDULE


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