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Transfer of assets for the benefit of son’s wife [Section 64(1)(viii)] – Income Tax

Transfer of assets for the benefit of son’s wife [Section 64(1)(viii)]

All income arising directly or indirectly, to any person or association of persons from the assets transferred, directly or indirectly, without adequate consideration will be included in the total income of the transferor to the extent such income is used by the transferee for the immediate or deferred benefit of the transferor’s son’s wife.

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