Mera Samvidhaan All of Income-tax Act, 1961

Chapter V · Income of Other Persons, Included in Assessee's Total Income

63"Transfer" and "revocable transfer" defined.

Section 63 · Chapter V · page 245 of the Act

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) "transfer" includes any settlement, trust, covenant, agreement or arrangement.

Section 63 of The Income-tax Act, 1961 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.