Section 61 → Section 81
Revocable transfer of assets
Quick Answer
Section 61 of the Income Tax Act, 1961 (Revocable transfer of assets) corresponds to Section 81 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective 1st April 2026. Status: Retained.
Sec 61
Provision Summary
Income arising from a revocable transfer of an asset is clubbed in the hands of the transferor.
Sec 81
Provision Summary
Retained to ensure trusts and settlements cannot be used as temporary tax shelters.
Key Changes & Highlights
- No change.
Related Sections
Frequently Asked Questions
What does Section 61 of the Income Tax Act 1961 deal with?
Section 61 (Revocable transfer of assets) Income arising from a revocable transfer of an asset is clubbed in the hands of the transferor.
What is the new section number for Section 61 under the Direct Tax Code 2025?
Section 61 of the ITA 1961 maps to Section 81 of the Direct Tax Code 2025 (Income-tax Act, 2025), effective from 1st April 2026.
What is the status of Section 61 under the new tax code?
Section 61 is marked as "Retained" with status "Active". Impact: Low - Targeted at complex wealth structuring.
What are the key changes to Section 61 under DTC 2025?
No change.
Disclaimer: This page is for educational and reference purposes only. Section mappings are based on publicly available drafts and circulars. Always consult a qualified Chartered Accountant before filing or making compliance decisions under the Direct Tax Code 2025.
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