Amendment of section 56.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ply on or after the 1st day of April, 2025.". - Clause 23 of the Bill seeks to amend section 56 of the Income-tax Act relating to income from other sources. The provisions of clause (viib) of sub-section (2) of the said section provides that where a company, not being a company in which the public are substantially interested, receives, in any previous year, from any person, any consideration ....