Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2012 Year 2012 This

Re-computation of income tax liability - to adopt the maximum ...

Income Tax

July 7, 2012

Re-computation of income tax liability - to adopt the maximum marginal rate of 40% applicable under Section 164(1) - the maximum marginal rate could not be applied to the income of the Trust - HC

View Source

 


 

You may also like:

  1. The trust is discretionary trust. Hence, it is liable to be assessed as per the provisions of Sec.164(1) at maximum marginal rate.

  2. Assessment of trust - Rate of Tax - Maximum Marginal Rate (MMR) - The ld. AR of the assessee argued that the trust should be taxed based on the specific provision of...

  3. Exemption u/s 11 - Contravention of Section 13(1)(d) - Since dividend income is exempt, no income remains taxable at Maximum Marginal rate - HC

  4. 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...

  5. Violation of section 13(1)(d) r.w section 11(5) - Centre to be taxed on maximum marginal rate or not - once it has been held that the exemption granted by the order of...

  6. In case of contravention of Section 13(1)(d), maximum marginal rate of tax under Section 164(2), proviso is applicable only to that part of income of the Trust which has...

  7. Denial of tax exemption computation u/s 11 - taxability of income at maximum marginal rate, as per proviso to section 164(2) - interest free loans to interested persons...

  8. Charging maximum marginal rate - Charitable society - validity of action of the CPC in calculating the tax at Maximum Marginal rates instead of the slab rates - Revenue...

  9. Assessment of trust - Determinate Trust or indeterminate Trust - Section 164(1) - That Section comes into play only where any income or any part thereof is not...

  10. Assessment of trust after denial of exemption u/s 11 - section 164 - the beneficiaries of the trust are unknown - The income of the trust shall be assessed at maximum...

 

Quick Updates:Latest Updates