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of <h1>Amendment to Section 56 of Income-tax Act: Tax on Excess Stamp Duty Value and Employment Compensation. Effective April 2018/2019.</h1> Clause 21 of the Finance Bill, 2018, amends section 56 of the Income-tax Act concerning income from other sources. Effective April 1, 2019, if the stamp duty value of an immovable property exceeds the consideration paid by more than fifty thousand rupees or five percent of the consideration, the excess is taxable. Additionally, clause (xi) is introduced, taxing compensation received for employment termination or changes in employment terms. The amendment also excludes certain capital asset transfers between holding and subsidiary companies from taxation under specific conditions, effective April 1, 2018.
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