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of <h1>Amendment to Section 269A redefines 'apparent consideration' for property transfers, clarifies 'fair market value' and 'transfer' terms.</h1> The amendment to Section 269A of the Income-tax Act, 1961, redefines 'apparent consideration' for immovable property transfers, specifying conditions for leases involving premiums and rent. It introduces definitions for 'fair market value' based on the nature of the transfer, whether by sale, exchange, or lease. The definition of 'immovable property' now includes certain rights, and 'instrument of transfer' refers to registered documents under the Registration Act or Section 269AB. The term 'transfer' encompasses sales, exchanges, or leases of at least twelve years, including possession under specific contract conditions, and applies to property-related actions affecting ownership or enjoyment.
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