Mobile View
Main Search Forums Advanced Search Disclaimer
Citedby 43 docs - [View All]
K. Venugopal vs Controller Of Estate Duty on 17 February, 1983
Controller Of Estate Duty vs M. Charitakis And Dr. G.B. ... on 15 June, 1990
Controller Of Estate Duty vs Kismat Rai Khanna on 15 September, 1997
Controller Of Estate Duty vs Ram Lal Agarwal (Decd.) Through ... on 30 July, 2004
Controller Of Estate Duty vs K. Govindarajulu on 23 February, 1995

User Queries
[Complete Act]
Central Government Act
Section 33 in The Estate Duty Act, 1953
33. Exemptions.
(1) To the extent specified against each of the clauses in this sub- section, no estate duty shall be payable in respect of property of any of the following kinds belonging to the deceased which passes on his death--
(a) property taken 1 under one or more gifts] made by the deceased for a public charitable purpose within a period of six months before his death, to the extent of rupees two thousand and five hundred in value;
(b) property taken 1 under one or more gifts] made by the deceased for any other purpose within a period of 2 two years] before his death, to the extent of rupees one thousand and five hundred in value;
(c) household goods, including tools of artisans, agricultural implements or any other tools or implements as were necessary to the deceased to enable him to earn his livelihood, to the extent of rupees two thousand and five hundred in value;
(d) books not intended for sale;
(e) wearing apparel, but not including any precious or semiprecious stones or ornaments worked or sewn into the wearing apparel;
(f) moneys payable under one or more policies of insurance effected by the deceased on his life for the purpose of paying estate duty or assigned to the Government for the said purpose, to the extent of the amount of duty payable 3 ;
(g) moneys deposited with the Government in such manner as may be prescribed for the purpose of paying estate duty, together with the interest which has accrued due thereon at such rate as may be prescribed, to the extent of the amount of duty payable 3 : 4 Provided that the moneys in respect whereof no estate duty shall be payable either under clause (f) or clause (g) or under both shall not exceed rupees fifty thousand in the aggregate;]
1. Subs. by Act 33 of 1958, s. 12, for" under a gift" (w. e. f. 1- 7- 1960 ). 2 Subs. by Act 13 of 1966, s. 38, for" one year" (w. e. f. 1- 4- 1966 ). 3 The words" but not exceeding rupees fifty thousand" omitted by Act 17 of 1954, s. 4 (with retrospective effect). 4 Ins. by s. 4, ibid.
(h) moneys payable under one or more policies of insurance effected by the deceased on his life, to the extent of rupees five thousand;
(i) drawings, paintings, prints, manuscripts, works of art or archaeological or scientific collections which are of national, scientific or historical interest and which are retained in the family of the deceased and dealt with or disposed of in accordance with such conditions as the Board may prescribe, or which are given absolutely or bequeathed to Government or to any University or other public institution;
(j) drawings, paintings, photographs, prints, manuscripts and any other heir- loom, not falling within clause (i), which are retained in the family of the deceased and are dealt with or disposed of in accordance with such conditions as the Board may prescribe and are not intended for sale;
(k) moneys earmarked under policies of insurance or declarations of trust or settlements effected or made by a deceased parent or natural guardian for the marriage of any of his female relatives dependent upon him for the necessaries of life, to the extent of 1 rupees ten thousand] in respect of the marriage of each of such relatives;
(l) 2 any one building in the occupation of a Ruler declared by the Central Government as his official residence under Paragraph 13 of the Merged States (Taxation Concessions) Order, 1949 , or Paragraph 15 of the Part B States (Taxation Concessions) Order, 1950 ;
(m) property belonging to the deceased who was a member of the armed forces of the Union and who was killed in action during operations against an enemy;]
(mm) 3 property belonging to the deceased who was a member of any police force (including a border security force) and was killed in any action in protecting the border;]
(n) 4 one house or part thereof exclusively used by the deceased for his residence, to the extent the principal value
1. Subs. by Act 33 of 1958, s. 12, for" rupees five thousand" (w. e. f. 1- 7- 1960 ). 2 Ins. by s. 12, ibid. (w. e. f. 1- 7- 1960 ). 3 Ins. by Act 13 of 1966, s. 38 (w. e. f. 1- 4- 1965 ). 4 Ins. by Act 5 of 1964, s. 49 (w. e. f. 1- 4- 1964 ).
thereof does not exceed rupees one lakh if such house is situate in a place with a population exceeding ten thousand, and the full principal value thereof in any other case;]
(nn) 5 any deposits with a co- operative society, being a co- operative housing society, made by the deceased who was a member of the society to whom a building or part thereof was allotted or leased under a house building scheme of the society, where such deposits had been made under such scheme;]
(o) 1 property taken under any gift made by the deceased to the spouse, son, daughter, brother or sister, beyond a period of five years before his death: Provided that the property is either chargeable to gift- tax under the Gift- tax Act, 1958 , (18 of 1958 ) or is not chargeable under section 5 of that Act, for any assessment year commencing after the 31st day of March, 1964 ;]
(p) 2 National Defence Gold Bonds, 1980 , to the extent of the principal value of such Bonds for an aggregate weight of fifty kilogrammes of gold: Provided that if such Bonds had passed on the death of any person, the exemption conferred by this clause shall not be available in respect of the same Bonds passing on any subsequent death.]
(2) If the Central Government is of opinion that in respect of any class of property or class of persons the circumstances are such that some relief in addition to the reliefs provided in sub- section (1) should be given, it may, by notification in the Official Gazette, make any exemption, reduction in rate or other modification in respect of estate duty in favour of any such class of property or the whole or any part of the property of any class of persons, and any notification so issued shall be laid before both Houses of Parliament as soon as may be after it is issued. PART AGGREGATION OF PROPERTY AND RATES OF DUTY PART IV AGGREGATION OF PROPERTY AND RATES OF DUTY