Deemed Assets – Section 4 - In case of a irrevocable transfer - Wealth Tax Law & Procedure - Wealth-tax

Deemed Assets – Section 4 - In case of a irrevocable transfer<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /> 4 (5) The value of any assets transferred under an irrevocable transfer shall be liable to be included in computing the net wealth of the transferor as and when the power to revoke arises to him.