Consideration for not undertaking professional activity taxable as profits and gains of business or profession from enactment.

Clause 12 amends section 28 by adding "or profession" to clause (va) so that any sum, whether received or receivable, in cash or kind, under an agreement for not carrying out any activity relating to a profession is chargeable to tax under the head Profits and gains of business or profession; the amendment applies prospectively to the relevant assessment years.

---

---

---