Amendment of section 10.

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....r section 89 for any assessment year in respect of any amount received or receivable on his voluntary retirement or termination of service or voluntary separation, no exemption under this clause shall be allowed to him in relation to such, or any other, assessment year."; (b) in clause (23C), in the fourteenth proviso, for the words "made at any time during the financial year immediately preced....

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....p; - Clause 4 of the Bill seeks to amend section 10 of the Incometax Act relating to incomes not included in total income.It is proposed to insert a new proviso to clause (10C) of the said section so as to provide that where any relief has been allowed to an assessee under section 89 for any assessment year in respect of any amount received or receivable on his voluntary retirement or termination....

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....is proposed to amend the said proviso so as to allow the filing of the application on or before the 30th September of the relevant assessment year. This amendment will take effect retrospectively from 1st April, 2009 and will, accordingly, apply in relation to the assessment year 2009-2010 and subsequent years. Clause (a) of Explanation to clause (23D) of the said section provides for exempt....

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....sector banks' by the Reserve Bank of India would also be covered under the scope of clause (23D). This amendment will take effect from 1st April, 2010 and will, accordingly, apply in relation to the assessment year 2010-2011 and subsequent years. It is also proposed to insert a new clause (44) in the said section so as to provide that any income received by any person for, or on behalf o....