Clause 96 - Transfer of income without transfer of assets. - Income Tax Bill, 2025

CHAPTER V INCOME OF OTHER PERSONS, INCLUDED IN TOTAL INCOME OF ASSESSEE Transfer of income without transfer of assets. 96. All income arising to any person by virtue of transfer, (a) whether revocable or not, and whether effected before or after the commencement of this Act; and (b) where there is no transfer of assets from which such income arises, shall be chargeable to income-tax as the income of the transferor and shall be included in his total income.