# The Finance Act, 2016, Section 35: Amendment of section 56

- Act: The Finance Act, 2016
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2016/section/35/

## Text

Amendment of section 56. 35. In section 56 of the Income-tax Act, in sub-section (2), in clause (vii), in the second proviso occurring after sub-clause (c), with effect from the 1st day of April, 2017,— (a) | in clause (g), for the word, figures and letters "section 12AA", the words, figures and letters "section 12AA; or" shall be substituted; (b) | after clause (g), the following clause shall be inserted, namely:— "(h) | by way of transaction not regarded as transfer under clause (vicb) or clause (vid) or clause (vii) of section 47.".

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