https://www.taxtmi.com/acts?id=49095 Clause 97 provides that income from a revocable transfer of assets is taxable as the transferor's income and included in his total income, subject to exceptions where the transfer is irrevocable during the beneficiary's or transferee's lifetime and the transferor derives no direct or indirect benefit; however, when the power to revoke arises, such income is chargeable to tax as the transferor's income and must then be included in his total income. en-us Fri, 14 Feb 2025 16:49:07 +0530 Thu, 20 Feb 2025 12:19:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49095 Clause 97 provides that income from a revocable transfer of assets is taxable as the transferor's income and included in his total income, subject to exceptions where the transfer is irrevocable during the beneficiary's or transferee's lifetime and the transferor derives no direct or indirect benefit; however, when the power to revoke arises, such income is chargeable to tax as the transferor's income and must then be included in his total income. Act-Rules Bills Fri, 14 Feb 2025 16:49:07 +0530 https://www.taxtmi.com/acts?id=49095