Section 98: “Transfer” and “revocable transfer” defined
The Income-tax Act, 2025Central Act · Act 30 of 2025
"Transfer" and "revocable transfer" defined.
For the purposes of sections 96 and 97, and this section,—
(a) "transfer" includes any settlement, trust, covenant, agreement or arrangement;
(b) a transfer shall be deemed to be revocable, if—
(i) it contains any provision for the direct or indirect re-transfer 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.
Where this provision sits
| Act | The Income-tax Act, 2025 |
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| Section | 98 |
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| Marginal note | “Transfer” and “revocable transfer” defined |
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| Jurisdiction | Central |
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| Status | In force as published by the source |
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