Section 24 - Amendment of section 56. - Finance Act, 2021

Amendment of section 56. 24. In section 56 of the Income-tax Act, in sub-section (2), in clause (x), (a) in sub-clause (b), in item (B), after the third proviso, the following proviso shall be inserted, namely: Provided also that in case of property being referred to in the second proviso to sub-section (1) of section 43CA, the provisions of sub-item (ii) of item (B) shall have effect as if for the words ten per cent. , the words twenty per cent. had been substituted; ; (b) in the proviso, in clause (IX) after the word, brackets and figures clause (vii) , the words, brackets, figures and letters or clause (viiac) or clause (viiad) or clause (viiae) or clause (viiaf) shall be inserted with effect from the 1st day of April, 2022.