Section 61:
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.
43/1961 - The Income-tax Act, 1961 ▶
Act Number: 43
Act Name: The Income-tax Act, 1961
Year: 1961
Enactment Date: 1961-09-13
Long Title: An Act to consolidate and amend the law relating to income-tax and super-tax
Ministry: Ministry of Finance
Department: Department of Revenue