" (iiia) of property In the form of National Defence Gold Bonds, 1930, not exceeding the value of such Bonds for an aggregate weight of five kilogrammes of gold in any previous year:
Provided that the exemption conferred by this clause shall be available only to a person who has initially subscribed to the said Bonds;".
8. (I) Wheie a person who has acquired any gold out of hit.
income which has not been disclosed by him for the purposes of the Indian Income-tax Apt, 1922, or the Income-tax Act, 1961, or the Excfc-ih PioiHs Tax Act, 1940, or the Business Profits Tax Act, 1947, 01 the Super Profits Tax Act, 1963, or the Companies (Profits) Surtax Act, 1964, tenders such gold as subscription for the National Defence Gold Bonds, 1980, prior to the detection of such income by the Tncomstax Officer or the seizure of such gold under any law for the time beihg 'in force, such income shall, notwithstanding anything contained Tn the said Arts, not be included in his income, profits or gain.
chargeable to tax under the said Acts in an assessment or re-assessmt-Tit for any assessment year made under the said Acts on or al tt-i the 20th day of October, 19W.
(2) In computing the net wealth of a person undei the Wealthtax Act, 1957, the value of the assets represented by the income, which under sub-section (1) is not includible in his income, profits or gains, shall, notwithstanding anything contained in the said Act, not be taken into account in an assessment or re-asse&sment for any assessment year made under the said Act on or after the 20th day of October, 1965.
(3) (a) The name of the person subscribing to th© National Defence Gold Bonds, 1980, and any particulars relating to the Bonds subscribed to by him, shall be treated as confidential, and, notwithstanding anything contained in any law for the time being in force, no court shall be entitled to require any public servant to disclose the name of such person or any such particulars or to give any evidence m respect thereof.
(b) No public servant shall disclose the name of the person subscribing to the National Defence Gold Bonds, 1980 or any particulars relating to- the Bonds subscribed to by him, except to an officer employed in the execution of any of the Acts mentioned in sub-section Amendment of Act 18 of 1958.
Exempt on from tax in certain cases of undisclosed income invested in National Defence Gold Bonds, 1980.
530 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC, 1]
(1) or Lhe Wealth-tax Act, 1957 or to any officer appointed by the Comptroller and Auditor-General of India or the Central Board of Direct Taxes (constituted under the Central Boards of Revenue Act, J 963) to audit income-tax receipts or refunds.
(4) In this section,—
(a) "gold" means gold, including its alloy, whether virgin, melted, re-melted, wrought or unwrought, in any shape or form, and includes any gold coin (whether legal tender or not), any ornament and any other article ut gold;
(b) 'public servant" includes an officer or other employee of the Reserve Bank of India.
S. RADHAKRISHNAN, President.
R. C. S. SARKAR, Secy, to the Govt, of Itttftft.
«7 o( 1957 54 of 1963 PRINTED m INDIA BY THE GENERAL MANAOKR, OOVJKNMENT OF INDIA FRIES*.
MIHTO ROAD. NEW DELHI AND PUBLISHED BY THE MANAGER OF PUBLICATTONA »EU& 1965.