Assessment of trust as Association of Persons (AOP) - family ...

Income Tax

May 13, 2023

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 sources and there is no business income to the trust. - Shares of beneficiaries of trust are determined - A.O directed to redetermine the assessee family trust tax liability giving basic exemption and slab benefit. - AT

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Assessment of trust as Association of Persons (AOP) - family ...

Income Tax

May 13, 2023

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

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