Income-tax Act, 1961›Chapter V: INCOME OF OTHER PERSONS, INCLUDED IN ASSESSEE'S TOTAL INCOMESections 60–651961Section 6363. "Transfer" and "revocable transfer" defined.‹ 6264 ›In the 2025 Act1 match · Unreviewed2025 Section 98Reworded · Unreviewed · CompareFrom the Income Tax Department's correspondence.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.‹ PreviousSection 62Transfer irrevocable for a specified period.Next ›Section 64Income of individual to include income of spouse, minor child, etc.Income-tax Act, 1961: text as on 22 May 2026 · Official source ↗ · Report an error