Surcharge on pvt discretionary trust
This query is : Resolved
Quick Summary
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%
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- House Property Reporting in ITR
- Internship/Academic shown in Salary Pay Slip of a Doctor
- TDS Claim year
- Refund of 20%pre-deposit paid for stay application
- TDS Challan Code
- Nomination of Bank for refund in itr 2
- Rent lease agreement
- Relief u/s Section 89
- SGST balance is there in credit ledger how to adjust for cgst
- REGARDING SECTION 44AE
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
