RATES OF GIFT-TAX :
Schedule-I
RATES OF GIFT-TAX
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(1)
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where the value of all taxable gifts does not exceed Rs. 20,000
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5 per cent of the value of such gifts;
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(2)
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where the value of all taxable gifts exceeds Rs. 20,000 but does not exceed Rs. 50,000
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Rs. 1,000 plus 10 per cent of the amount by which the value of such gifts exceeds Rs. 20,000;
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(3)
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where the value of all taxable gifts exceeds Rs. 50,000 but does not exceed Rs. 1,00,000
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Rs. 4,000 plus 15 per cent of the amount by which the value of such gifts exceeds Rs. 50,000;
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(4)
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where the value of all taxable gifts exceeds Rs. 1,00,000 but does not exceed Rs. 2,00,000
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Rs. 11,500 plus 20 per cent of the amount by which the value of such gifts exceeds Rs. 1,00,000;
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(5)
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where the value of all taxable gifts exceeds Rs. 2,00,000 but does not exceed Rs. 5,00,000
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Rs. 31,500 plus 25 per cent of the amount by which the value of such gifts exceeds Rs. 2,00,000;
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(6)
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where the value of all taxable gifts exceeds Rs. 5,00,000 but does not exceed Rs. 10,00,000
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Rs. 1,06,500 plus 30 per cent of the amount by which the value of such gifts exceeds Rs. 5,00,000;
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(7)
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where the value of all taxable gifts exceeds Rs. 10,00,000 but does not exceed Rs. 15,00,000
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Rs. 2,56,500 plus 40 per cent of the amount by which the value of such gifts exceeds Rs. 10,00,000;
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(8)
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where the value of all taxable gifts exceeds Rs. 15,00,000 but does not exceed Rs. 20,00,000
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Rs. 4,56,500 plus 50 per cent of the amount by which the value of such gifts exceeds Rs. 15,00,000;
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(9)
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where the value of all taxable gifts exceeds Rs. 20,00,000
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Rs. 7,06,500 plus 75 per cent of the amount by which the value of such gifts exceeds Rs. 20,00,000.]
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