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          Wealth-tax

          Deemed Assets – Section 4 - In case of a irrevocable transfer

          Wealth Tax Law & Procedure

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          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.
                            Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                              Provisions expressly mentioned in the judgment/order text.

                                  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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