In clause ix of sub section 2 of section 56
WebDec 26, 2024 · Section 56 (2) (X) not applicable if the immovable property received by a resident of an unauthorized colony in the National Capital Territory of Delhi, where CG notification in the official gazette, regularised the transaction of such immovable property based on the latest Power of Attorney, Agreement to Sale, Will, possession letter and … WebFeb 6, 2024 · Clause (x) of sub-section (2) of section 56 of the Act, inter alia, provides that where any person receives, in any previous year, from any person or persons on or after 1st April, 2024, any immovable property, for a consideration which is less than the stamp duty value of the property by an amount exceeding fifty thousand rupees, the stamp duty value …
In clause ix of sub section 2 of section 56
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WebMay 11, 2024 · The other provisions dealing with winning from the five activities mentioned above are provided in Section 2(24)(ix) read with Section 56(2)(ib) and Section 58(4). Section 2(24) defines the meaning of the term “income”, and sub-clause (ix) covers the said winnings. Section 56(2)(ib) provides that the income referred to in Section 2(24)(ix ... WebSep 20, 2016 · The revised Form 3CD now requires reporting for receipt of shares of private limited company without consideration or for inadequate consideration and receipt of any …
WebAccording to section 56 (2) (ix), any sum of money, received as an advance or otherwise in the course of negotiations for transfer of a capital asset shall now be taxable under the … WebApr 11, 2024 · Amended Provision. Finance Act, 2024 has amended clause (viii) to sub section (1) of Section 9 of the Act which also now includes any sum of money or value of property received by not ordinarily resident from the resident person without consideration, the aggregate value of which exceeds Rs. 50,000 then it shall be considered as income …
WebNov 27, 2024 · (2) In particular, and without prejudice to the generality of the provisions of sub-section (1), the following incomes, shall be chargeable to income-tax under the head “Income from other sources”, namely :— ( i) dividends ; ( ia) income referred to in sub-clause ( viii) of clause ( 24) of section 2; Web[Clause(viii) and (ix) of sub-section(5) of section 80G has been inserted w.e.f. 01.04.2024 by the Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act, 2024] ... This section applies in relation to amounts referred to in clause (d) of sub-section (2) only if the trust or institution or fund is established in India for a ...
Web(ib) income referred to in sub-clause (ix) of clause (24) of section 2 ; ( ic ) income referred to in sub-clause ( x ) of clause ( 24 ) of section 2, if such income is not chargeable to income …
WebAug 29, 2024 · Taxation on gift provided U/S 56 (2) of income tax act 1961. As per income tax act gifts received are taxable in the hands of recipient under the head of other Sources … port folio templateWebDec 29, 2024 · Whether any amount is to be included as Income Chargeable under the head income from other sources as referred to in clause (ix) of subsection 2 of section 56? … port foldingWebAug 27, 2024 · The provisions of section 56(2)(vii) were introduced as a counter evasion mechanism to prevent laundering of unaccounted income under the garb of gifts, particularly after abolition of the Gift Tax Act. ... or clause (viia) or clause (x) of sub-section (2) of section 56, the cost of acquisition of such property shall be deemed to be the value ... irish tables spartanWeb(a) make, while preparing disaster management plan under clause (a) of sub-section (1), provisions for financing the activities specified therein; (b) furnish a status report regarding the implementation of the plan referred to in clause (a) of sub-section (1) to the National Authority, as and when required by it. 38. irish tableclothsWebclause (b) is disputed by the assessee on grounds mentioned in sub-section (2) of section 50C, the Assessing Officer may refer the valuation of such property to a Valuation Officer, and the provisions of section 50C and sub-section (15) of section 155 shall, as far as may be, apply in relation to the stamp duty value of such property for the ... port football club facebookWebThe following clause (ix) shall be inserted after clause (viii) of sub-section (2) of section 56 by the Finance (No. 2) Act, 2014 w.e.f. 1-4-2015 : (ix) any sum of money received as an advance or otherwise in the course of negotiations for transfer of a capital asset, if,— (a) … irish tabletWebIn section 8 of the principal Act, in sub-section (3), in clause (m), for the words “of such a child to the observation home”, the words “that child to an observation home or place port fonda the pitch