1535. Additional relief to property bequeathed to Jawahar Lal Nehru Memorial Fund - Notification issued under sub-section (2) granting full exemption from estate duty
Circular No. 377 was issued by the Central Board of Direct Taxes on 21 February 1984. Its subject is 1535. Additional relief to property bequeathed to Jawahar Lal Nehru Memorial Fund - Notification issued under sub-section (2) granting full exemption from estate duty.
This grants an exemption or a relief under a provision that allows one. Read the conditions attached: an exemption notification is construed strictly, and a condition missed is the exemption lost.
Reproduces the Central Government's direction exempting from estate duty property bequeathed to the Jawahar Lal Nehru Memorial Fund. The relief covers movable or immovable property of a deceased bequeathed to that Fund, being a fund notified under section 10(23C)(iv) of the Income-tax Act, 1961, on which estate duty has been or is liable to be levied by reason of its inclusion in the estate as property passing on death. It applies where the property has actually been delivered to the Fund after the publication of the notification in the Official Gazette, within two years from the date of the notification, or within three years after the death, or within two years from the grant of probate or letters of administration with a copy of the will annexed. On such property no estate duty is payable.
The Central Government was of the opinion that circumstances were such that relief in addition to that in section 33(1) of the Estate Duty Act, 1953 should be given for this class of property.
1535. Additional relief to property bequeathed to Jawahar Lal Nehru Memorial Fund - Notification issued under sub-section (2) granting full exemption from estate duty
Whereas the Central Government is of opinion that circumstances are such that some relief in addition to the reliefs provided in sub-section (1) of section 33 of the Estate Duty Act, 1953 (34 of 1953) should be given in respect of the following class of property, whether movable or immovable, namely, any property of a deceased :
(i) bequeathed by the deceased to "Jawahar Lal Nehru Memorial Fund" being a fund notified under sub-clause (iv) of clause (23C) of section 10 of the Income-tax Act, 1961 (43 of 1961); and
(ii) which has actually been delivered, after the date of publication of this notification in the Official Gazette, to such fund—
(a) within a period of two years from the date of such notification ; or
(b) within a period of three years after the death of the deceased ; or
(c) within a period of two years from the date on which probate is, or letters of administration (with a copy of Will annexed) are granted in respect of the estate of the deceased testator; and
(iii) on which estate duty has been levied and collected or is liable to be levied and collected under the Estate Duty Act, 1953 (34 of 1953) by virtue of the inclusion of such property in the estate of the deceased as property passing on his death ;
Now, therefore, 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 no estate duty shall be payable in respect of such class of property.
Notification : No. GSR 165, dated 3-2-1984.
In an old estate duty assessment where a legacy to the Fund is claimed to be exempt.
Source: the Income Tax Department’s own published text — its page for this instrument.
