(A) into the starting portionвЂ”
(a) following the words вЂњrepay any loan or deposit made by itвЂќ shall be inserted with itвЂќ, the words вЂњor any specified advance received;
(b) following the words вЂњmade the mortgage or depositвЂќ, the text вЂњor paid the specified advance,вЂќ will be placed;
(B) in clause (a), after the language вЂњloan or depositвЂќ, the words вЂњor specified advanceвЂќ will be placed;
(C) in clause (b), your message вЂњorвЂќ will probably be inserted at the conclusion;
(D) after clause (b) and ahead of the long line, the next clause will probably be placed, specifically:вЂ”
вЂњ(c) the amount that is aggregate of specified advances received by such individual either in his or her own title or jointly with any kind of individual from the date of these repayment together aided by the interest, if any, payable on such certain advances,вЂќ;
(E) into the 2nd proviso, following the terms вЂњany loan or depositвЂќ, the words вЂњor specified advanceвЂќ will probably be placed;
(F) within the Explanation, after clause (iii), the clause that is following be inserted, particularly:вЂ”
вЂ(iv) вЂњspecified advanceвЂќ means any sum of cash into the nature of advance, by whatever title called, pertaining to transfer of an property that is immovable set up transfer takes destination.вЂ™.
69. Amendment of part 271D.
The words вЂњor specified sumвЂќ shall be inserted with effect from the 1st day of June, 2015 in section 271D of the Income-tax Act, in sub-section (1), after the words вЂњloan or depositвЂќ occuring at both the places.
70. Amendment of part 271E. Continue reading →