banner_ad

Indian Trust Act,

596 views 1 replies

I want advice on particular topis,

Its, If a person transfer his property or creat trust under irrevocable transfer then it is not treated as transfer u/s 47(iii) of Income Tax Act and ultimately not chargeble to tax.

Now what happen if at the end of trust period or if trust has achieved its objective i.e trust is to be over, At that time assets held under trust name are transfered (distributed) to benefeciaries ... Whether that is chargeble to tax, if yes under which provision of Income tax.

Please advice if you know,

Amit

Replies (1)

after the objects of the trust are achieved, the assets of the trust is to be transferred to any other trust having similar objects, i don't think beneficiaries will get the asset, unless specifically mention in the trust deed.

Everything depends on purpose for which the trust is created, if u can give more details, i may be able to discuss more


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
11 May 2026
Post office

Post office

Anakapalle

Others

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details