Charge of tax in case of oral trust

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..... Where a trustee receives or is entitled to receive any income on behalf or for the benefit of any person under an oral trust, then, notwithstanding anything contained in any other provision of this A .....

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..... Direct Tax Laws (Amendment) Act, 1987, w.e.f. 1-4-1989. Prior to its omission, clause (i) of Explanation stood as under : '(i) maximum marginal rate shall have the meaning assigned to it in .....

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