Definition of income expanded to include sums referred to in section 56(2)(v), altering clause (24) of section 2. Amendment expands the statutory definition of income by inserting a new sub clause into clause (24) of section 2 to include any sum referred to in clause ... Summary
Definition of income expanded to include sums referred to in section 56(2)(v), altering clause (24) of section 2.
Amendment expands the statutory definition of income by inserting a new sub clause into clause (24) of section 2 to include any sum referred to in clause (v) of sub section (2) of section 56, thereby bringing the receipts identified by the referenced provision within the Act's definition of income; the insertion operates prospectively as enacted by the Finance Act.
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