Amendment of section 17

Section 13 of the Finance Act, 2001 deals with amendment of section 17. 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;

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.".

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Section 13, The Finance Act, 2001.