61 Revocable transfer of assets

Detailed Description

Revocable transfer of assets.

61. All income arising to any person by virtue of a revocable transfer of assets shall be chargeable to income-tax as the income of the transferor and shall be included in his total income.

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Hierarchy

Direct Tax

Income Tax Act

INCOME OF OTHER PERSONS, INCLUDED IN ASSESSEE'S TOTAL INCOME

61 Revocable transfer of assets

Act Information

Sections:: 0
Rules:: 0
Forms:: 0
Added:: Aug 20, 2025
Updated:: Aug 20, 2025

Related Acts

60 Transfer of income where there is no transfer of assets

62 Transfer irrevocable for a specified period

63 "Transfer" and "revocable transfer" defined

64 Income of individual to include income of spouse, minor child, etc.

65 Liability of person in respect of income included in the income of another person

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