Income Tax Act, 2025
Section 269A: Definitions.—In this Chapter, unless the context otherwise requires,—
269A. Definitions.—In this Chapter, unless the context otherwise requires,—
(a) 2[“apparent consideration”,—
(1) in relation to any immovable property transferred, being immovable property of the
nature referred to in sub-clause (i) of clause (e), means,—]
(i) if the transfer is by way of sale, the consideration for such transfer as specified in the
instrument of transfer;
(ii) if the transfer is by way of exchange,—
(A) in a case where the consideration for the transfer consists of a thing or things
only, the price that such thing or things would ordinarily fetch on sale in the open market
on the date of execution of the instrument of transfer;
(B) in a case where the consideration for the transfer consists of a thing or things and
a sum of money, the aggregate of the price that such thing or things would ordinarily
fetch on sale in the open market on the date of execution of the instrument of transfer and
such sum;
3[(iii) if the transfer is by way of lease,—
(A) in a case where the consideration for the transfer consists of premium only, the
amount of premium as specified in the instrument of transfer;
(B) in a case where the consideration for the transfer consists of rent only, the
aggregate of the moneys (if any) payable by way of rent and the amounts for the service
or things forming part of or constituting the rent, as specified in the instrument of
transfer;
(C) in a case where the consideration for the transfer consists of premium and rent,
the aggregate of the amount of the premium, the moneys (if any) payable by way of rent
and the amounts for the service or things forming part of or constituting the rent, as
specified in the instrument of transfer,
and where the whole or any part of the consideration for such transfer is payable on any date or dates
falling after the date of such transfer, the value of the consideration payable after such date shall be
deemed to be the discounted value of such consideration, as on the date of such transfer, determined
by adopting the rate of interest at eight per cent per annum;
1. Chapter XXA, consisting of sections 269A to 269S, ins. by Act 45 of 1972, s. 4, (w.e.f. 151972).
2[“apparent consideration”,—
in relation to any immovable property transferred, being immovable property of the
nature referred to in sub-clause
of clause
if the transfer is by way of sale, the consideration for such transfer as specified in the
instrument of transfer;
if the transfer is by way of exchange,—
in a case where the consideration for the transfer consists of a thing or things
only, the price that such thing or things would ordinarily fetch on sale in the open market
on the date of execution of the instrument of transfer;
in a case where the consideration for the transfer consists of a thing or things and
a sum of money, the aggregate of the price that such thing or things would ordinarily
fetch on sale in the open market on the date of execution of the instrument of transfer and
such sum;
3[
if the transfer is by way of lease,—
in a case where the consideration for the transfer consists of premium only, the
amount of premium as specified in the instrument of transfer;
in a case where the consideration for the transfer consists of rent only, the
aggregate of the moneys (if any) payable by way of rent and the amounts for the service
or things forming part of or constituting the rent, as specified in the instrument of
transfer;
in a case where the consideration for the transfer consists of premium and rent,
the aggregate of the amount of the premium, the moneys (if any) payable by way of rent
and the amounts for the service or things forming part of or constituting the rent, as
specified in the instrument of transfer,
and where the whole or any part of the consideration for such transfer is payable on any date or dates
falling after the date of such transfer, the value of the consideration payable after such date shall be
deemed to be the discounted value of such consideration, as on the date of such transfer, determined
by adopting the rate of interest at eight per cent per annum;
1. Chapter XXA, consisting of sections 269A to 269S, ins. by Act 45 of 1972, s. 4, (w.e.f. 151972).