Income Tax Law
Income-tax Act, 2025 · CHAPTER V — INCOME OF OTHER PERSONS INCLUDED IN TOTAL INCOME OF ASSESSEE
Section 98“Transfer” and “revocable transfer” defined
Income-tax Act, 2025 (30 of 2025)
For the purposes of sections 96 and 97, and this section,—
(a)“transfer” includes any settlement, trust, covenant, agreement or arrangement;
(b)a transfer shall be deemed to be revocable, if—
(i)it contains any provision for the direct or indirect re-transfer 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.
(i)it contains any provision for the direct or indirect re-transfer 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.
(i)it contains any provision for the direct or indirect re-transfer 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.
(i)it contains any provision for the direct or indirect re-transfer 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.
This section refers to
§ 96 Transfer of income without transfer of assets