Amendment of section 56

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....eration, the stamp duty value of such property as exceeds such consideration, if the amount of such excess is more than the higher of the following amounts, namely:-- (i) the amount of fifty thousand rupees; and (ii) the amount equal to five per cent. of the consideration:"; (II) in the fourth proviso, in clause (IX), after the words, brackets and figure "clause (i) or",....

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....on which is less than the stamp duty value of the property by an amount exceeding fifty thousand rupees, the stamp duty value of such property as exceeds such consideration shall be charged to tax under the head "Income from other sources". It is proposed to amend the said clause of sub-section (2) of the said section so as to provide that where any person receives any immovable property for a ....