https://www.taxtmi.com/manuals?id=1172 Income from an asset transferred under a revocable transfer is clubbed with the income of the transferor and taxed in the transferor's hands, rather than in the hands of the recipient. A transfer is revocable where it provides for direct or indirect re-transfer of income or assets to the transferor, or gives the transferor a right to re-assume direct or indirect power over the income or asset. Transfer includes a settlement, trust, covenant, agreement, or arrangement. en-us Tue, 15 Sep 2015 12:19:00 +0530 Tue, 23 Jun 2026 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=1172 Income from an asset transferred under a revocable transfer is clubbed with the income of the transferor and taxed in the transferor's hands, rather than in the hands of the recipient. A transfer is revocable where it provides for direct or indirect re-transfer of income or assets to the transferor, or gives the transferor a right to re-assume direct or indirect power over the income or asset. Transfer includes a settlement, trust, covenant, agreement, or arrangement. Manuals Income Tax Tue, 15 Sep 2015 12:19:00 +0530 https://www.taxtmi.com/manuals?id=1172