Section 47. Power to remove difficulties

1[ 47. Power to remove difficulties. — (1) If any difficulty arises in giving effect to the provisions of this Act as amended by the Direct Tax Laws (Amendment) Act, 1987 (4 of 1988), the Central Government may, by order, do anything not inconsistent with such provisions for the purpose of removing the difficulty : Provided that no such order shall be made after the expiration of three years from the 1st day of April, 1988. (2) Every order made under sub-section (1) shall be laid before each House of Parliament.] 1. Ins. by Act 4 of 1988, s. 185 (w.e.f. 1-4-1988). 1[SCHEDULE 2[I] 3[[ See section 3(1)]] ==> picture [90 x 13] intentionally omitted <== - (1) where the value of all taxable gifts does not 5 per cent. of the value of such exceed Rs. 20,000 gifts; - (2) where the value of all taxable gifts exceeds Rs. 1,000 plus 10 per cent. of the Rs. 20,000 but does not exceed Rs. 50,000 amount by which the value of such gifts exceeds Rs. 20,000; - (3) where the value of all taxable gifts exceeds Rs. 4,000 plus 15 per cent. of the Rs. 50,000 but does not exceed Rs. 1,00,000 amount by which the value of such gifts exceeds Rs. 50,000; - (4) where the value of all taxable gifts exceeds Rs. 11,500 plus 20 per cent. of the Rs. 1,00,000 but does not exceed amount by which the value of such Rs. 2,00,000 gifts exceeds Rs. 1,00,000; - (5) where the value of all taxable gifts exceeds Rs. 31,500 plus 25 per cent. of the Rs. 2,00,000 but does not exceed amount by which the value of such Rs. 5,00,000 gifts exceeds Rs. 2,00,000; - (6) where the value of all taxable gifts exceeds Rs. 1,06,500 plus 30 per cent. of Rs. 5,00,000 but does not exceed the amount by which the value of Rs. 10,00,000 such gifts exceeds Rs. 5,00,000; - (7) where the value of all taxable gifts exceeds Rs. 2,56,500 plus 40 per cent. of Rs. 10,00,000 but does not exceed the amount by which the value of Rs. 15,00,000 such gifts exceeds Rs. 10,00,000; - (8) where the value of all taxable gifts exceeds Rs. 4,56,500 plus 50 per cent. of Rs. 15,00,000 but does not exceed the amount by which the value of Rs. 20,00,000 such gifts exceeds Rs. 15,00,000; - (9) where the value of all taxable gifts exceeds Rs. 7,06,500 plus 75 per cent. of Rs. 20,00,000 the amount by which the value of such gifts exceeds Rs. 20,00,000.] 1. Subs. by Act 19 of 1970, s. 27, for the Schedule (w.e.f. 1-4-1971).