# The Finance Act, 2001, Section 13: Amendment of section 17

- Act: The Finance Act, 2001
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2001/section/13/

## Text

Amendment of section 17. 13. In section 17 of the Income-tax Act,— (a) in clause (2),— (i) in sub-clause (iii),— (A) in item (c), for the words "twenty-four thousand rupees", the words "fifty thousand rupees" shall be substituted with effect from the 1st day of April, 2002; (B) in the proviso, for the words "the Employees’ Stock Option Plan or Scheme of the said company", the words "any Em­ployees’ Stock Option Plan or Scheme of the company offered to such employees in accordance with the guidelines issued in this behalf by the Central Government" shall be substituted; (ii) after sub-clause (v), the following sub-clause shall be inserted with effect from the 1st day of April, 2002, namely:— "(vi) the value of any other fringe benefit or amenity as may be prescribed."; (b) in clause (3), after sub-clause (ii) and the Explana­tion relating thereto, the following sub-clause shall be inserted with effect from the 1st day of April, 2002, namely:— "(iii)any amount due to or received, whether in lump sum or otherwise, by any assessee from any person— (A) before his joining any employment with that person; or (B) after cessation of his employment with that person.". © Copyright. Taxmann Publications Pvt. Ltd.

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