Income inclusion under Section 56 expanded to cover income referenced in sub clause (ix) of clause (24). Amendment inserts a new clause (ib) into sub-section (2) of Section 56 to include the income referred to in sub-clause (ix) of clause (24) of section 2, ... Summary
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Income inclusion under Section 56 expanded to cover income referenced in sub clause (ix) of clause (24).
Amendment inserts a new clause (ib) into sub-section (2) of Section 56 to include the income referred to in sub-clause (ix) of clause (24) of section 2, thereby expanding the items captured by Section 56(2) through explicit cross-reference to the definition in section 2(24).
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