Assessment of trust/AOP - revocable trust - where a contribution ...

Income Tax

November 6, 2022

Assessment of trust/AOP - revocable trust - where a contribution is made in a manner that the contributors are entitled to recover their contributions over a specified period, and are entitled to the income from their contributions, the settlement of the trust should be disregarded for the purpose of tax, and the income thereof taxed as through it had directly arisen to the contributors. In the case of a revocable trust, income shall be chargeable to tax only in the hands of beneficiaries/contributors. - AT

View Source

← Previous Next →

Assessment of trust/AOP - revocable trust - where a contribution ...

Income Tax

November 6, 2022

You may also like:

Status of a trust/AOP - Valid status - assessee trust is a revocable trust - provisions of Sec. 61 to 63 of the Act would be applicable to it - there would be no legal...

Treatment of assessee trust as an Association of Persons (AOP) - Since it was revocable Trust, the provisions of Sec. 61 to 63 were applicable and the assessee could not...

The assessee Trust is a revocable Trust and contribution by beneficiaries is a revocable transfer. - the income shall be taxed in the hands of the beneficiaries, i.e....

Reopening of assessment - income arising from the revocable transfer of assets - taxability in the hands of trust or transferor/settler - The Appellate Tribunal observed...

Assessee is a revocable trust OR AOP - as the names of the beneficiaries of the assessee trust and their shares were known since inception i.e at the time of the...

Doctrine of diversion of income by overriding title - Tax liability on interest income of the trust - since assessee was a revocable trust and contribution by...

Insertion of new section 115TCA - Tax on income from securitisation trusts. - any income accruing or arising to, or received by, a person, being an investor of a...

Status of a private discretionary trust - AOP OR Individual - The Ld. CIT(A) has interpreted the meaning of AOP - the subsequent amendment by explanation to section...

Assessment of trust/AOP - trust to be assessed in the status of AOP - religious trusts / deity - Levying tax at the maximum marginal rate instead of rates applicable to...

Exemption u/s 11 - whether Voluntary Contributions made to the corpus of the Trust constitutes “taxable income” of the Trust? - Corpus-specific-voluntary contributions...

Assessment of trust as Association of Persons (AOP) - family trust - rate of tax - maximum marginal rate or slab rates - Assessee family trust has only income from other...

Treatment of assessee as trust or AOP - the observations of taxability of trust and income being offered to tax in the hands of the beneficiary are all inter-dependent...

Appellant is a juridical person or not - Appellant can be treated as a “trust” or not - service provided to contributories or not - The High Court found that the...

Association of person (AOP) - assessment of trust - assessee cannot be taxed as an AOP and that the shares of each beneficiaries are determinate and known and...

Assessment of trust - Application of Maximum Marginal rate @ 30% - To be treated as AOP u/s 164 or not - As such subsection (2) of section 164 of the Act provides to...

Quick Updates: