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Section 63: “Transfer” and “revocable transfer” defined

The Income-tax Act, 1961Central Act · Act 43 of 1961

Repealed. This text is published for reference. It is not in force, and it should not be relied on as current law without checking what replaced it. Repealed by the Income-tax Act, 2025, with effect from 1 April 2026

"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 re-transfer 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 re-assume 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.

Where this provision sits

ActThe Income-tax Act, 1961
Section63
Marginal note“Transfer” and “revocable transfer” defined
JurisdictionCentral
StatusRepealed
Judgments citing it5

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