If an asset is transferred under a “revocable transfer” income will be taxable in the hands of
A. Transferor
B. Transferee
C. Transferor or Transferee, who so ever has higher income
D. None of the above
Answer:A
If an asset is transferred under a “revocable transfer” income will be taxable in the hands of
A. Transferor B. Transferee C. Transferor or Transferee, who so ever has higher income D. None of the above