Amendment of section 56.

13. In section 56 of the Income-tax Act, in sub-section (2), after clause (iv), the following clause shall be inserted at the end, with effect from the 1st day of April, 2005, namely:ó

ë(v)Ý where any sum of money exceeding twenty-five thousand rupees is received without consideration by an individual or a Hindu undivided family from any person on or after the 1st day of September, 2004, the whole of such sum :

Provided that this clause shall not apply to any sum of money receivedó

(a)Ý from any relative; or

(b)Ý on the occasion of the marriage of the individual; or

(c)Ý under a will or by way of inheritance; or

(d)Ý in contemplation of death of the payer.ÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝÝ

Explanation.ó For the purposes of this clause, ìrelativeî meansó

(i)Ý spouse of the individual;

(ii)Ý brother or sister of the individual;

(iii)Ý brother or sister of the spouse of the individual;

(iv)Ý brother or sister of either of the parents of the individual;

(v)Ý any lineal ascendant or descendant of the individual;

(vi)Ý any lineal ascendant or descendant of the spouse of the individual;

(vii)Ý spouse of the person referred to in clauses (ii) to (vi).í.