Amendment of Section 56 of the Act (MEASURES TO PROMOTE INVESTMENT AND EMPLOYMENT)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n Budget 2024-25 (Full) + FINANCE (No.2) Bill, 2024 Section 56 of the Act is related to Income from other sources. 2. Vide Finance Act, 2012, a new clause (viib) was inserted in sub-section (2) of s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e chargeable to income tax under the head "Income from other sources". 3. It has been decided by the Government to sun-set the provisions of clause (viib) of sub-section (2) of section 56 of the Act.....