Report No. 57
4.6. Provisions in the Income-tax Act.-
The special case of the husband or father transferring assets to the wife or minor child (other than a married daughter) is dealt with by a more direct provision1 in the Income-tax Act,-a provision which has been on the Statute Book for a long time. There are also other provisions in the Income-tax Act,2 designed to check the avoidance or evasion of tax (or its recovery) by fraudulent and other transfers.
1. Section 64, Income-tax Act, 1961.
2. Sections 175, 178, 230A and 281, Income-tax Act, 1961.
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