shared income from trust

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Yogesh (Querist)
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12 June 2009 Private trust earned Dividend income of Rs 1500000 and it is distributed between two beneficiary in ratio of 1:1. Now my query is whether such share is taxable to beneficiary or not. If yes then give explaination and if not then in what name it should be disclosed in accounts.

M Prabhakar Menon

M Prabhakar Menon (Expert)
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13 June 2009 If the trust is registerd u/s 12AA this will be excluded u/s 56(2)(iv)(g)

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