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Amendment of section 56.

..... in clause (v), 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; (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; (iii) in clause (vii), in the second pro .....

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..... 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 received without consideration by an individual or a Hindu undivided family from any person on or after the 1st day of September, 2004 but before the 1st day of April, 2006, the whole of such sum shall be chargeable to income-tax .....

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..... 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 tax under the head income from other sources. It is proposed to amend the said sub-clause (b) so as to provide that where any person receives, any immovable property, in any previous year, from any person or persons on or after the 1st da .....

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