TaxTMI 
TaxTMI 
TaxTMI 
Amendment of section 56
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....viia), after the figures, letters and words "1st day of June, 2010", the words, figures and letters "but before the 1st day of April, 2017" shall be inserted; (III) after clause (ix), the following clause shall be inserted, namely:- '(x) where any person receives, in any previous year, from any person or persons on or after the 1st day of April, 2017,- (a) any sum of money, without consideratio....
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....n a case where the amount of consideration referred to therein, or a part thereof, has been paid by way of an account payee cheque or an account payee bank draft or by use of electronic clearing system through a bank account, on or before the date of agreement for transfer of such immovable property: Provided also that where the stamp duty value of immovable property is disputed by the assessee o....
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.... exceeds such consideration: Provided that this clause shall not apply to any sum of money or any property received- (I) from any relative; or (II) on the occasion of the marriage of the individual; or (III) under a will or by way of inheritance; or (IV) in contemplation of death of the payer or donor, as the case may be; or (V) from any local authority as defined in the Explanation to clau....