Income Tax Act, 2025
Section 3: Subs. by Act 22 of 1981, s. 2, for clause (d) (w.e.f. 11982).
3. Subs. by Act 22 of 1981, s. 2, for clause (d) (w.e.f. 11982).
4. Subs. by s. 2, ibid., for “Immovable property means any land or any building” (w.e.f. 11982).
747
Explanation.—For the purposes of this 1[sub-clause], land, building, part of a building, machinery,
plant, furniture, fittings and other things include any rights therein;
2[(ii) any rights of the nature referred to in clause (b) of sub-section (1) of section 269AB;]
3[(f) “instrument of transfer” means the instrument of transfer registered under the Registration
Act, 1908 (16 of 1908), or, as the case may be, the statement registered under section 269AB with the
competent authority;]
(g) “person interested”, in relation to any immovable property, includes all persons claiming, or
entitled to claim, an interest in the compensation payable on account of the acquisition of that
property under this Chapter ;
4[(h) “transfer”,—
(i) in relation to any immovable property referred to in sub-clause (i) of clause (e), means
transfer of such property by way of sale or exchange or lease for a term of not less than twelve
years, and includes allowing the possession of such property to be taken or retained in part
performance of a contract of the nature referred to in section 53A of the Transfer of Property Act,
1882 (4 of 1882).
Explanation.—For the purposes of this sub-clause, a lease which provides for the extension of the
term thereof by a further term or terms shall be deemed to be a lease for a term of not less than twelve
years if the aggregate of the term for which such lease has been granted and the further term or terms for
which it can be so extended is not less than twelve years ;
(ii) in relation to any immovable property of the nature referred to in sub-clause (ii) of clause
(e), means the doing of anything (whether by way of transfer of shares in a co-operative society
or company or by way of any agreement or arrangement or in any other manner whatsoever)
which has the effect of transferring, or enabling the enjoyment of, such property.]
5[269AB. Registration of certain transactions.—(1) The following transactions, that is to say,—
(a) every transaction involving the allowing of the possession of any immovable property to be
taken or retained in part performance of a contract of the nature referred to in section 53A of the
Transfer of Property Act, 1882 (4 of 1882), and
(b) every transaction (whether by way of becoming a member of, or acquiring shares in, a cooperative society, company or other association of persons or by way of any agreement or any
arrangement of whatever nature) whereby a person acquires any rights in or with respect to any
building or part of a building (whether or not including any machinery, plant, furniture, fittings or
other things therein) which has been constructed or which is to be constructed (not being a transaction
by way of sale, exchange or lease of such building or part of a building which is required to be
registered under the Registration Act, 1908 (16 of 1908)),
shall be reduced to writing in the form of a statement by each of the parties to such transaction or by any
of the parties to such transaction acting on behalf of himself and on behalf of the other parties.
(2) Every statement in respect of a transaction referred to in sub-section (1) shall—
(a) be in the prescribed form;
(w.e.f. 11982).
4. Subs. by s. 2, ibid., for “Immovable property means any land or any building” (w.e.f. 11982).
747
Explanation.—For the purposes of this 1[sub-clause], land, building, part of a building, machinery,
plant, furniture, fittings and other things include any rights therein;
2[
any rights of the nature referred to in clause
of sub-section
of section 269AB;]
3[
“instrument of transfer” means the instrument of transfer registered under the Registration
Act, 1908 (16 of 1908), or, as the case may be, the statement registered under section 269AB with the
competent authority;]
“person interested”, in relation to any immovable property, includes all persons claiming, or
entitled to claim, an interest in the compensation payable on account of the acquisition of that
property under this Chapter ;
4[
“transfer”,—
in relation to any immovable property referred to in sub-clause
of clause
in relation to any immovable property of the nature referred to in sub-clause
of clause
The following transactions, that is to say,—
every transaction involving the allowing of the possession of any immovable property to be
taken or retained in part performance of a contract of the nature referred to in section 53A of the
Transfer of Property Act, 1882 (4 of 1882), and
every transaction (whether by way of becoming a member of, or acquiring shares in, a cooperative society, company or other association of persons or by way of any agreement or any
arrangement of whatever nature) whereby a person acquires any rights in or with respect to any
building or part of a building (whether or not including any machinery, plant, furniture, fittings or
other things therein) which has been constructed or which is to be constructed (not being a transaction
by way of sale, exchange or lease of such building or part of a building which is required to be
registered under the Registration Act, 1908 (16 of 1908)),
shall be reduced to writing in the form of a statement by each of the parties to such transaction or by any
of the parties to such transaction acting on behalf of himself and on behalf of the other parties.
Every statement in respect of a transaction referred to in sub-section
shall—
be in the prescribed form;