TMI BlogAmendment of section 56.X X X X Extracts X X X X X X X X Extracts X X X X ..... o, in clause (g ), for the word, figures and letters section 12AA , the words, figures and letters section 12AA or section 12AB shall be substituted; (ii ) in clause (vi ), in the proviso, in clause (g ), for the word, figures and letters section 12AA , the words, figures and letters section 12AA or section 12AB shall be substituted; ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0. - Clause 29 of the Bill seeks to amend section 56 of the Income-tax Act relating to income from other sources. Sub-section (2) of the said section provides the details of the incomes which shall be chargeable to income-tax under the head Income from other sources . Clause (v) of said sub-section provides that where any sum of money exceeding twenty-five thousand rupees re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (x) of sub-section (2) of the said section, inter alia, provides that where any person receives, any immovable property, in any previous year, from any person or persons on or after the 1st day of April, 2017 for a consideration, where the stamp duty value of such property exceeds five per cent. of the consideration the excess amount if it is more than fifty thousand rupees shall be charged to ta ..... X X X X Extracts X X X X X X X X Extracts X X X X
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