Income-tax Act, 1961

Section - 63 - “Transfer” and “revocable transfer” defined

"Transfer" and "revocable transfer" defined.

63. For the purposes of sections 60, 61 and 62 and of this section,-

(a) - a transfer shall be deemed to be revocable if-
(i) - it contains any provision for the re-transfer directly or indirectly of the whole or any part of the income or assets to the transferor, or
(ii) - it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets ;
(b) - "tra .... To read the full section download the app from Google Play store