Vairavan (Business ) 18 August 2019
What is the procedure to form and register family trust in Tamilnadu, added how many minimum members to be in trustee and beneficiary? What is the stamp duty amount for registration of Trust & registration expenses? (approximately).
If it in-case author of the trust want to shutdown the family trust what is the process? what will happen to the trust property?
Is there any online source or reference document for the taxation of family trust? which explain under what circumstance will a family trust get a tax benefit?
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Kapadia Pravin 18 August 2019
Family trust as such won't get any tax benefit. If shares of beneficiaries are not determined then tax would be maximum slab 30% . If shares of beneficiaries are determinate then income will be distributed and assessed in the hands of beneficiaries.