Estate Duty Act, 1955 (Act No. 45 of 1955)

Powers, Duties and Functions Delegated

Section of Estate Duty Act, 1955, under which Powers, Duties and Functions are Exercised

To admit claims as to the amount of any premiums or consideration paid by persons entitled to the amounts due under any policies of insurance

Paragraph (a) of sub-section (3) of section three

To decide whether the consideration paid for any property is a full consideration for that property

Paragraph (a) of sub-section (4) of section three

To determine whether the amount claimed in respect of funeral and deathbed expenses is fair and reasonable

Paragraph (a) of section four

To admit claims in respect of any debts which have been discharged from property included in the estate

Paragraph (b) of section four

To admit as claims so much of any debts due by the deceased to persons ordinarily resident outside the Union as exceed the value of any assets of the deceased outside the Union

Paragraph (f) of section four

To decide whether a purchase and sale is a bona fide purchase and sale in the course of the liquidation of the estate

Paragraph (a) of sub-section (1) of section five

To admit any claim that consideration was paid for the right of ownership in property

Paragraph (b) of sub-section (1) of section five

To appoint an impartial person to determine the fair market value of property

Paragraphs (f) and (g) of sub-section (I) and sub-section (2) of section five

To determine the annual yield of an interest in property

Sub-paragraph (iii) of paragraph (f) of subsection (1) of section five and sub-section (2) of section five

To decide whether any conditions affecting the value of any property were imposed by or at the instance of the deceased

Paragraph (g) of sub-section (1) of section five

To appoint any person to submit a return in prescribed form

Sub-section (1) of section seven

To receive the returns submitted by executors or other persons

Sub-section (1) of section seven

To call upon any person to submit a return within a prescribed period, to prescribe such period, and to estimate the dutiable value of an estate in the absence of a return

Sub-section (2) of section seven

To adjust the value of any property shown in a return, and to determine the dutiable amount of an estate

Sub-section (1) of section eight

To call upon any person to furnish information

Sub-section (2) of section eight

To assess the duty payable under the Act and to issue notices of assessment

Sub-section (1) of section nine

To allow an extension of time within which duty may be paid without interest in cases where an assessment has not yet been issued

Sub-section (2) of section ten

To decide whether a deposit on account of duty is reasonable

Paragraph (a) of sub-section (2) of section ten

To admit claims as to the amounts of transfer duty and do nations tax which may be allowed as deductions from the duty payable

Section sixteen

To ensure that due provision has been made for the payment of duty

Section eighteen

To ascertain the amount of duty payable in respect of any property which an executor has paid over or with which he has parted without first paying duty thereon

Section nineteen

To consent to the transfer of stocks or shares

Sub-section (1) of section twenty-one

To consent to the transfer of immovable property

Sub-section (1) of section twenty-two

To determine what reduction shall be made, in terms of the second proviso to the First Schedule, in the amount of duty payable

Second proviso to First Schedule

Powers, duties and functions delegated

Section of Estate Duty Act, 1955, under which Powers, Duties and Functions are Delegated

To consent to the transfer of immovable property

Sub-section (1) of section twenty-two