Section 56(2) (vii)

HELLO FRIENDS....AS YOU ARE AWARE OF AMENDMENTS IN TH BUDGET 13-14 IN SECTION 56 (2) (VII) REGARDING TAXING THE DIFFERENCE BETWEEN PURCHASE PEICE AND STAMP DUTY VALUE OF A IMMOVABLE PROPERTY UNDER THE HEAD -INCOME FROM OTHER SOURCES.

THE ISSUE HERE IS-(1) FROM WHICH DATE THESE PROVISIONS ARE APPLICABLE

(2) WILL THIS INCOME FALL UNDER NORMAL TAX SLAB OR BE CHARGED @ 30%

WAITING FOR REPLIES.

THANKS