Deemed assets inclusion when power to revoke arises, making transferred property part of transferor's net wealth for tax. Section 4(5) includes the value of assets transferred under an irrevocable transfer in the transferor's net wealth when the power to revoke vests in the ... Summary
Deemed assets inclusion when power to revoke arises, making transferred property part of transferor's net wealth for tax.
Section 4(5) includes the value of assets transferred under an irrevocable transfer in the transferor's net wealth when the power to revoke vests in the transferor, treating such assets as deemed assets for wealth-tax computation despite the prior transfer.
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