SHOULD I GO FOR FORMATION OF NON DISCREATIONARY TRUST FOR THE BENEFIT OF MINOR DAUGHTER WHERE FATHER WILL BE SETTLOR AND MOTHER WILL BE A TRUSTEE. THE AMOUNT RECEIVED BY THE TRUST WILL BE CREDITED TO THE CORPUS OF THE TRUST AND WILL NOT BE AVAILABLE TO BENEFICIARY TILL SHE GETS MAJORITY.THIS WAY THE SETTLOR WANTS TO SAVE TAX LIABILITY IN THE HANDS OF THE TRUST AND ALSO IN THE HANDS OF THE BENEFICIARY.
Menu
NON DISCREATIONARY TRUST
Replies (1)
it is more advisable to r U to make your father or mother as settlor and you and your wife can both be trustees, and creat minor benefit trust and enjoy tax holiday till miminum slab available . it is treated AOP (Trust).
Recent Topics :
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
- TDS on rent paid to RNOR Landlord. Can RNOR US tax
- PAN CANCELLATION OF A DISSOLVED PARTNERSHIP FIRM
Related Topics :
CAclubindia
