Taxability of private trust

Dear Professional Colleagues,

                                                  I have query on taxation of private trust. Please find below business case:

A couple want to to create their minor child's education and marriage trust. The trust will have 100% beneficiary for the minor child. The trust will be for untill say 18th birthday of the minor in case of education and 25th birthday in case of marriage. The funds accumulated by the trust would be used for education and marriage of minor child respectively. The trust would be started with a initial corpus of say 3-4 lakhs as contributed by parents. The parents would be the trustees.

I would like to know how this private marriage/education trust would be charged t tax...Can it used Individual slabs including basic exemption limit of 2 Lakhs or will it be charged at Maximum Marginal Rate. If MMR then what rate.

Thanks for your response.

Thanks,

Amith Kumar