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[Cites 0, Cited by 0] [Section 99(3)] [Section 99] [Entire Act]

Union of India - Subsection

Section 99(3)(c) in The Income Tax Act, 2025

(c)transfer, directly or indirectly to the family,without adequate consideration, then, irrespective of any other provision of this Act or any other law in force for computing the total income of such individual,––
(i)the individual shall be deemed to have transferred such property, through the family, to the members of such family for being held jointly, and the income derived from such property or part thereof, shall be deemed to be income of the individual;
(ii)where the property so converted has been the subject-matter of partition (whether partial or total) amongst the member of the family, the income derived from such property as is received by the spouse of the individual on partition, shall be deemed to arise to the spouse from assets transferred indirectly to the spouse and the provisions of sub-section (1)(a) shall apply,and the income referred to in clauses (i) and (ii) shall, on being included in the total income of the individual, be excluded from the total income of the family or the spouse.