Tax Implication on Dissolution of Will Trust
This query is : Resolved
CA Ankit Zaveri
(Querist)
23 May 2009
I would like to know the tax implication of net surplus available & distributed to the trustees of will trust which is registerd as AOP.
Whether net surplus distributed among trustees is taxable in their hands or not.
Whether net surplus distributed among trustees is taxable in their hands or not.
CA.BHARAT BHUSHAN
(Expert)
23 May 2009
If you are doing the assessment of Trust of Will under AOP, then on dissolution of Trust, same treatment will be made as are doing in the case of AOP
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