Deemed income threshold raised for specified property transfers, and fund-to-fund transfers excluded from income-from-other-sources charge.

The amendment raises the valuation differential threshold used to determine when excess stamp duty value over consideration is charged as income from other sources for properties referenced by the second proviso to the related valuation rule, effective from assessment year 2021-2022. It also excludes transfers between an original fund and a resultant fund on restructuring from the deemed-income charge where such transfers are not regarded as transfers under the specified non-transfer clauses, effective from assessment year 2022-2023.

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