Income of individual to include of AOP to which assets are transferred for the benefit of son's wife - (New) Section 99(1)(d) / (Old) Section 64(1)(viii)

Income of individual to include of AOP to which assets are transferred for the benefit of son's wife - (New) Section 99(1)(d) / (Old) Section 64(1)(viii) https://www.taxtmi.com/manuals?id=1179 Income arising from assets transferred by an individual, directly or indirectly and without adequate consideration, to a person or an association of persons is included in the transferor's total income to the extent it is for the immediate or deferred benefit of his son's wife. The rule requires a nexus between the income and the transferred asset, applies to transfers made on or after 1 June 1973, and recognises that direct payment to the son's wife is not necessary. Wife means legally wedded wife. en-us Tue, 15 Sep 2015 12:30:00 +0530 Thu, 25 Jun 2026 16:07:00 +0530 TaxTMI RSS Generator Income of individual to include of AOP to which assets are transferred for the benefit of son's wife - (New) Section 99(1)(d) / (Old) Section 64(1)(viii) https://www.taxtmi.com/manuals?id=1179 Income arising from assets transferred by an individual, directly or indirectly and without adequate consideration, to a person or an association of persons is included in the transferor's total income to the extent it is for the immediate or deferred benefit of his son's wife. The rule requires a nexus between the income and the transferred asset, applies to transfers made on or after 1 June 1973, and recognises that direct payment to the son's wife is not necessary. Wife means legally wedded wife. Manuals Income Tax Tue, 15 Sep 2015 12:30:00 +0530 https://www.taxtmi.com/manuals?id=1179