Income of individual to include of AOP to which assets are transferred for the benefit of son's wife - Section 64(1)(viii) - Income Tax - Ready Reckoner - Income Tax

Income of individual to include of AOP to which assets are transferred for the benefit of son s wife - Section 64(1)(viii) Where the asset transferred to a person or an AOP, without adequate consideration for the immediate or deferred benefit of his son s wife then the Income from such asset shall be clubbed in the hands of the transferor. Conditions:- The transfer should be without adequate consideration. Wife means legally wedded wife.