Trust

This query is : Open

ALPA Sukhia (Querist)
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22 June 2009 Income Tax Impact on Minor Beneficiary Trust. Is the trust as to pay any tax and what will be the slab rate

Sanjeev Jain

Sanjeev Jain (Expert)
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22 June 2009 01. See the slab rates that would be applicable on trust is the slab rates applicable for individuals.
02. Yes Trust will be liable to pay tax if its income exceeds the max. income not chargeable to tax.
03. Benefit of Section 11 & 12 will be claimed if the trust is registered under section 12A of the income TAx Act

ALPA Sukhia

ALPA Sukhia (Querist)
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23 June 2009 But it seem the beneficiary trust is tax free trust since it is opened for the benefit of minor

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