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Clubbing provisions in revocable transfer

Direct Taxation

As per section 62, there is an exception for revocable transfer by way to trust... Here My doubt is what is the treatment if the property has been sold or transfers to trust with consideration that is a benefit for assesse ?


Jashvanth.K

Jashvanth.K

CA Inter

9K+

06-May-24 13:31

55

Answers (1)

If it is done for a consideration then it a clear case of transfer and that would be taxable.


Shiva Teja

Shiva Teja

Faculty

06-May-24 14:23

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