what is the procedure if I not want to take benefit of exemption?
can i do the same?
Or any section prohibits me for that?
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Exemption under section 11
Replies (1)
A trust is not mandated to use the Section 11 exemption; it is a voluntary claim. To opt out, a trust simply chooses not to invoke these sections when filing its annual Income Tax Return. As a result, the income becomes fully taxable based on the trust's legal status. It is strongly recommended to perform a tax impact assessment with a professional before deciding to forgo this benefit.
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