Taxation of charitable trust
This query is : Open
CA AJIT YADKIKAR
(Querist)
27 July 2016
A public charitable trust not registered under section 12 AA of Income tax Act. My query is at what rate it would be taxable ? If it is taxable as AOP then will it be taxable at maximum marginal rat?
27 July 2016
A public Charitable Trust not registered would be chargeable to tax as an AOP (association of persons).
The total income of the AOP/BOI is taxable, either at the rates applicable to an individual, or at the maximum marginal rate or at a rate higher than maximum marginal rate.
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