Amendment status not verified — confirm the current text below against the official source.
Gift-tax to be charged on property gifted. — Gift-tax payable in respect of any gift comprising immovable property shall be a first charge on that property but any such charge shall not affect the title of a bona fide purchaser for valuable consideration without notice of the charge. 6[31 Notice of demand. — When any tax, interest, penalty, fine or any other sum is payable in consequence of any order passed under this Act, the 5[Assessing Officer] shall serve upon the assessee a notice of demand in the prescribed form specifying the sum so payable.]