Income Tax Act, 2025
Section 5: Ins. by Act 17 of 2013, s. 5 (w.e.f. 12014).
5. Ins. by Act 17 of 2013, s. 5 (w.e.f. 12014).
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(b) “specified company” means a company as referred to in clause (h) of section 2 of the Unit
Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);
1[(35A) any income by way of distributed income referred to in section 115TA received from a
securitisation trust by any person being an investor of the said trust.
2[Provided that nothing contained in this clause shall apply to any income by way of distributed
income referred to in the said section, received on or after the 1st day of June, 2016.]
Explanation.—For the purposes of this clause, the expressions “investor” and “securitisation
trust” shall have the meanings respectively assigned to them in the Explanation below3[section
115TCA];
(36) any income arising from the transfer of a long-term capital asset, being an eligible equity
share in a company purchased on or after the 1st day of March, 2003 and before the 1st day of March,
2004 and held for a period of twelve months or more.
Explanation.—For the purposes of this clause, “eligible equity share” means,—
(i) any equity share in a company being a constituent of BSE-500 Index of the Stock
Exchange, Mumbai as on the 1st day of March, 2003 and the transactions of purchase and sale of
such equity share are entered into on a recognised stock exchange in India;
(ii) any equity share in a company allotted through a public issue on or after the 1st day of
March, 2003 and listed in a recognised stock exchange in India before the 1st day of March, 2004
and the transaction of sale of such share is entered into on a recognised stock exchange in India;]
4[(37) in the case of an assessee, being an individual or a Hindu undivided family, any income
chargeable under the head “Capital gains” arising from the transfer of agricultural land, where—
(i) such land is situate in any area referred to in item (a) or item (b) of sub-clause (iii) of
clause (14) of section 2;
(ii) such land, during the period of two years immediately preceding the date of transfer, was
being used for agricultural purposes by such Hindu undivided family or individual or a parent of
his;
(iii) such transfer is by way of compulsory acquisition under any law, or a transfer the
consideration for which is determined or approved by the Central Government or the Reserve
Bank of India;
(iv) such income has arisen from the compensation or consideration for such transfer received
by such assessee on or after the 1st day of April, 2004.
Explanation.—For the purposes of this clause, the expression “compensation or
consideration” includes the compensation or consideration enhanced or further enhanced by any
court, Tribunal or other authority;
5[(37A) any income chargeable under the head “Capital gains” in respect of transfer of a specified
capital asset arising to an assessee, being an individual or a Hindu undivided family, who was the
owner of such specified capital asset as on the 2nd day of June, 2014 and transfers that specified
capital asset under the Land Pooling Scheme (herein referred to as “the scheme”) covered under the
Andhra Pradesh Capital City Land Pooling Scheme (Formulation and Implementation) Rules, 2015
made under the provisions of the Andhra Pradesh Capital Region Development Authority Act, 2014
(Andhra Pradesh 11 of 2014) and the rules, regulations and Schemes made under the said Act.
Explanation.—For the purposes of this clause, “specified capital asset” means,—
(a) the land or building or both owned by the assessee as on the 2nd day of June, 2014 and
which has been transferred under the scheme; or
“specified company” means a company as referred to in clause
of section 2 of the Unit
Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002);
1[
any income by way of distributed income referred to in section 115TA received from a
securitisation trust by any person being an investor of the said trust.
2[Provided that nothing contained in this clause shall apply to any income by way of distributed
income referred to in the said section, received on or after the 1st day of June, 2016.]
Explanation.—For the purposes of this clause, the expressions “investor” and “securitisation
trust” shall have the meanings respectively assigned to them in the Explanation below3[section
115TCA];
any income arising from the transfer of a long-term capital asset, being an eligible equity
share in a company purchased on or after the 1st day of March, 2003 and before the 1st day of March,
2004 and held for a period of twelve months or more.
Explanation.—For the purposes of this clause, “eligible equity share” means,—
any equity share in a company being a constituent of BSE-500 Index of the Stock
Exchange, Mumbai as on the 1st day of March, 2003 and the transactions of purchase and sale of
such equity share are entered into on a recognised stock exchange in India;
any equity share in a company allotted through a public issue on or after the 1st day of
March, 2003 and listed in a recognised stock exchange in India before the 1st day of March, 2004
and the transaction of sale of such share is entered into on a recognised stock exchange in India;]
4[
in the case of an assessee, being an individual or a Hindu undivided family, any income
chargeable under the head “Capital gains” arising from the transfer of agricultural land, where—
such land is situate in any area referred to in item
or item
of sub-clause
of
clause
of section 2;
such land, during the period of two years immediately preceding the date of transfer, was
being used for agricultural purposes by such Hindu undivided family or individual or a parent of
his;
such transfer is by way of compulsory acquisition under any law, or a transfer the
consideration for which is determined or approved by the Central Government or the Reserve
Bank of India;
such income has arisen from the compensation or consideration for such transfer received
by such assessee on or after the 1st day of April, 2004.
Explanation.—For the purposes of this clause, the expression “compensation or
consideration” includes the compensation or consideration enhanced or further enhanced by any
court, Tribunal or other authority;
5[
any income chargeable under the head “Capital gains” in respect of transfer of a specified
capital asset arising to an assessee, being an individual or a Hindu undivided family, who was the
owner of such specified capital asset as on the 2nd day of June, 2014 and transfers that specified
capital asset under the Land Pooling Scheme (herein referred to as “the scheme”) covered under the
Andhra Pradesh Capital City Land Pooling Scheme (Formulation and Implementation) Rules, 2015
made under the provisions of the Andhra Pradesh Capital Region Development Authority Act, 2014
(Andhra Pradesh 11 of 2014) and the rules, regulations and Schemes made under the said Act.
Explanation.—For the purposes of this clause, “specified capital asset” means,—
the land or building or both owned by the assessee as on the 2nd day of June, 2014 and
which has been transferred under the scheme; or