Section - 61 (of Income Tax Act, 1961), Revocable transfer of assets

Section - 61 (of Income Tax Act, 1961), Revocable transfer of assets

Income Tax

Revocable transfer of assets.

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.