9911796707
TMI BlogAmendment of section 56X X X X Extracts X X X X X X X X Extracts X X X X ..... rty 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 clause (iv) or clause (v) or shall be in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 property as exceeds such consideration, if the amount of such exce ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. 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 shall be chargeable to income-tax under the head Income from other source ..... X X X X Extracts X X X X X X X X Extracts X X X X
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