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Revocable transfer

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Guest (Querist)
17 January 2013 What is revocable transfer under section 61 of income tax.what are document is required to justify such transfer.give me example that explain this concept.
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 January 2013 The transfer that can be cancelled at the option of trnasferor is revocable transfer under section 61 of income tax. You can think of any dubious tax practice as revocable. Say paying for the expenditure and then calling back the amount and so on.
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