Income-tax Act : "Transfer" and "revocable transfer" defined Indian Bare Acts :

Income-tax Act,1961

Act No : 43

Section : "Transfer" and "revocable transfer" defined

63. "Transfer" and "revocable transfer" defined For the purposes of sections 60, 61 and 62 and of this section,- (a) a transfer shall be deemed to be revocable if- (i) it contains any provision for the retransfer directly or indirectly of the whole or any part of the income or assets to the transferor, or (ii) it, in any way, gives the transferor a right to reassume power directly or indirectly over the whole or any part of the income or assets; (b) "transfer" includes any settlement, trust, covenant, agreement or arrangement. 1.316