The Forum of Free Enterprise was a non-political organization founded in 1956 by A. D. Shroff and was established to educate public opinion in India on free enterprise and a democratic way of life. The Forum published booklets to further its objects. The following book titled, “The Gift Tax” was published on April 6, 1958 and was authored by Professor R.J. Taraporevala. The booklet reviews a gift tax that was proposed by the Finance Minister in the budget of the Government of India for the year 1957-58. The text talks about the practice of gift tax and the existence of gift tax in the USA, Canada, Japan, Australia and New Zealand. The main problems with the Subject Matter of the gift relate to forgiveness of indebtedness and joint ownership. Further, the text covers joint tenancies and bank accounts, property transferred voluntarily and without consideration or for inadequate consideration, bad business bargains, partnership by an existing firm without paying any consideration in money terms, bonus and gratuity payments. Moreover, the text covers exemption of gift tax on specific items such as charitable gifts, marriage gifts, and gifts to a wife (conditions applied). Basic exemption allowances are given and the author suggests that small gifts must be exempted from gift tax. The booklet discusses charge of the tax, rates of tax, conflict of laws and double taxation, income tax, expenditure tax, estate duty and gift tax, and the administrative procedure.