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Question
Gift tax was first introduced in ____.
Gift tax was first introduced in ____.
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Solution
The correct option is C 1958
Gift tax was an act introduced by the parliament of India in 1958. It was introduced to impose tax on receiving and giving gifts under certain circumstances which is specified under the act. Hence, gift tax was first introduced in 1958.
Gift tax was an act introduced by the parliament of India in 1958. It was introduced to impose tax on receiving and giving gifts under certain circumstances which is specified under the act. Hence, gift tax was first introduced in 1958.
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