Surcharge on pvt discretionary trust
This query is : Resolved
14 February 2026
143(1) levied strange 10 or 15% surcharge on pvt disc. trust having just 7 lakh interest income,
i thikn its taxed at MMR, thats y?
not sure,
i thikn its taxed at MMR, thats y?
not sure,
14 February 2026
Yes, private discretionary trust is taxed at MMR (30%).
But surcharge should not apply at ₹7 lakh income.
If 10% or 15% surcharge is applied, it is likely a computation or status error and can be corrected via rectification.
But surcharge should not apply at ₹7 lakh income.
If 10% or 15% surcharge is applied, it is likely a computation or status error and can be corrected via rectification.
Message likes :
1 times
22 March 2026
yes sir going in appeal (rectification failed).
, wrongly 143(1) levied 37% surcharge (for aop it was 15%, but pvt disc trust is not aop, its boi).
mmr does not mean surcharge also should be at max rate.
, wrongly 143(1) levied 37% surcharge (for aop it was 15%, but pvt disc trust is not aop, its boi).
mmr does not mean surcharge also should be at max rate.
04 April 2026
will penalty also follow ? 143(1) levied cess (income remains same).
my view - no penalty as income remains same. (Chapter XXI of the "Act" lists down the various kinds of penalties imposable,)
my view - no penalty as income remains same. (Chapter XXI of the "Act" lists down the various kinds of penalties imposable,)
08 April 2026
resolved. no penalty, but department implies MMR means surcharge also at highest rate of 37%
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