Section 60 — Transfer of Income Without Transfer of Assets
Section 60 Income Tax Act: Transfer only income but keep the asset? It's still taxed in your hands. CA Inter clubbing of income explained si
Paper 3 — Taxation · Chapter
Clubbing of Income & Set-off / Carry Forward of Losses
Sections 60–74 of Income Tax Act — transfers without transfer, income of spouse/minor, set-off intra-head, inter-head and carry forward of losses. Expect 6–8 marks per attempt.
7 microlessons in this chapter
Read each in 5 minutes. Each has worked examples + the bare-Act text for reference.
All lessons
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2
Section 61 — Revocable Transfer of Assets
Section 61 Income Tax Act: income from revocable asset transfers is clubbed with the transferor's income. Key rule for CA Inter clubbing of
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3
Section 64 — Income of Spouse, Minor Child, etc.
Section 64 Income Tax Act: clubbing of income rules for spouse, minor child & daughter-in-law — explained simply for CA Inter May 2026 exams
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4
Section 70 — Set-off of Loss from One Source against Another (Same Head)
Section 70 Income Tax Act: intra-head set-off of losses explained simply — STCL vs LTCL rules, house property, and exam-ready examples for C
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5
Section 71 — Set-off of Loss Inter-head
Section 71 Income Tax Act: inter-head loss set-off rules for CA Inter — including the ₹2L HP loss cap and business loss vs salary exception
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6
Section 72 — Carry Forward & Set-off of Business Losses
Section 72 Income Tax Act: Carry forward of business losses for 8 years, set-off rules, and key conditions CA Inter students must know for M
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7
Section 74 — Carry Forward & Set-off of Capital Losses
Section 74 Income Tax: rules for carry forward & set-off of short-term and long-term capital losses — critical for CA Inter May 2026 exam.
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