Indian Trust Act,

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