Rate of tax on trust
This query is : Resolved
31 January 2014
Dear sir/madam,
We have a trust which is not registered under section 12AA of the income tax act yet. so what would be the rate of tax i.e it will be taxable as AOP or maximum marginal rate will be applied.
Thanks in Advance
We have a trust which is not registered under section 12AA of the income tax act yet. so what would be the rate of tax i.e it will be taxable as AOP or maximum marginal rate will be applied.
Thanks in Advance
31 January 2014
i believe your trust is a charitable one as such. So it would be charged under 164(2) as a AOP.
Otherwise, please refer https://www.taxmanagementindia.com/visitor/detail_manual.asp?ID=318
Otherwise, please refer https://www.taxmanagementindia.com/visitor/detail_manual.asp?ID=318
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