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of <h1>Section 28 Amended: New Clause (va) Covers Payments for Non-Compete Agreements and Business Rights, Effective April 1, 2003.</h1> Section 28 of the Income-tax Act is amended to include a new clause (va), effective April 1, 2003. This clause encompasses sums received or receivable under agreements for not conducting business activities or not sharing business-related rights or information. Exceptions include sums related to the transfer of manufacturing or business rights, taxable as 'Capital gains,' and compensation from the Montreal Protocol's multilateral fund. An 'agreement' covers formal or informal arrangements, and 'service' refers to any business-related service available to users, including industrial or commercial services like accounting, banking, and communication.
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