Amendment of section 56

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..... uty value of such property as exceeds such consideration, if the amount of such excess is more than the higher of the following amounts, namely: (i) the amount of fifty thousand rupees; and (ii) the amount equal to five per cent. of the consideration: ; (II) in the fourth proviso, in clause (IX), after the words, brackets and figure clause (i) or , the words, brackets and figures clau .....

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..... operty by an amount exceeding fifty thousand rupees, the stamp duty value of such property as exceeds such consideration shall be charged to tax under the head Income from other sources . It is proposed to amend the said clause of sub-section ( 2 ) of the said section so as to provide that where any person receives any immovable property for a consideration, the stamp duty value of the propert .....

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..... d sub-section. This amendment will take effect from 1st April, 2018. It is also proposed to insert a new clause ( xi ) in sub-section ( 2 ) of the said section so as to provide that any compensation or other payment due to or received by any person, by whatever name called, in connection with the termination of his employment or the modification of the terms and conditions relating thereto s .....

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