The first article, titled “Transfer of Agricultural Land and Income Tax Implications”, discusses the tax treatment of gains arising from the sale of agricultural land. It provides detailed analysis of Section 2(14) of the Income-tax Act, including the definition of a “capital asset” and the distinction between rural and urban agricultural land. The article also addresses issues related to land conversion, applicability of grandfathering provisions, and exemptions available under Sections 10(37), 54B, and 54F. Case laws and tribunal rulings further enrich the discussion, offering practical interpretation of municipal limits, development authority jurisdiction, and the taxability of agricultural income when land is used for non-agricultural purposes.
The second article focuses on “Issue of Securities by way of Private Placement under the Companies Act, 2013.” It elaborates on the procedures under Sections 42 and 62, covering steps such as Board and Shareholder approvals, offer letters, PAS filings, and statutory timeframes. The article outlines critical compliance requirements, including limitations on the number of offerees, maintenance of records, and handling of application money. It also emphasizes penalties for non-compliance and the risks of private placements being deemed public offers, thereby triggering SEBI regulations.
To keep the readers up-to-date, this volume features summaries of important CBDT Notifications and Circulars issued in June 2025, ranging from tax exemptions under Sections 10(46) and 10(46A) to updates on IFSC-related TDS relaxations, amendments to the India–Oman tax treaty and circular issued which relaxes timelines for processing delayed ITRs filed under condonation approvals—providing much-needed clarity for affected taxpayers.
Key Topics:
- Transfer of agricultural land and income tax implications
- Issue of securities by way of private placement under the Companies
Act, 2013 - CBDT Notifications for the month of June – 2025
- CBDT Circulars for the month of June – 2025
