Section 8 - Amendment of section 269J - Income Tax (Amendment) Act, 1981

8. Amendment of section 269J. In section 269J of the principal Act, in sub-section (1), the following proviso shall be inserted at the end, namely:- Provided that in a case where, under the agreement between the parties concerned, the whole or any part of the consideration for the transfer of such immovable property is payable on any date or dates falling after the date on which such property is acquired, the compensation payable by the Central Government shall be the aggregate of the following amounts, namely:- (i) an amount equal to fifteen per cent. of the apparent consideration; (ii) the amount, if any, that has become payable in accordance with such agreement on or before the date on which such property is acquired under this Chapter; and (iii) the amount payable after the date on which such property is acquired under this Chapter. ,