Taxablity of trust created for the benefit of minor child

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komal (Querist)
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20 January 2010 1) 3 persons wants to create a trust for the benefit of minor child [ at present only 1 beneficary ]
2) The amt contributed by the settler shall be invested . The income on the investment shall accrue till the beneficary attain major [ ie. age of 18 yrs ]
3) Whether trust is liable to tax , if yes ,then at what rate .
4) Whether trust will get a benefit of basic exemption .
5) How the income of trust will be taxed in the hands of trustee / beneficary
6) If new beneficary is added in future ,then what will be the status of 1st beneficary

Friends, Kindly share your experience in this regards.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 January 2010 Pl go through an article in the following link.
https://www.hindu.com/2006/02/27/stories/2006022700511500.htm

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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20 January 2010 A brief note on the issue can be read in the following link.
https://www.caclubindia.com/articles/registration-of-minor-trust-revised-4272.asp

komal

komal (Querist)
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21 January 2010 thank you sir

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