trust is classified as an Individual as well as A.O.P ?
what is the basis of classification.?
how is tax calculated on trust income.?
Menu
trust
Replies (1)
Trust is not individual but it is an AOP. A Trust has some trustees who do the work as per Trust Deed. That is why it is an AOP.
The rate of taxation is one and same as applicable to an individual.
But if beneficiaries share are not determined in the Trust Deed then the Maximum Marginal Rate of taxation is applicable.
Recent Topic
- Business income source for husband and wife
- Set off of LTCL against STCG under section 536(2n)
- Audit Workflow tool
- Is CA through direct entry easy for a commerce stu
- Dividend and withholding tax - DTAA- RSU
- NRI Query: Capital Gains Tax Exemption under Secti
- Royalty payment to UK
- Calculate ITR2 tax with equity and non equity prof
- LTCG on residential property sale - Rebate?
- TDS MISMATCH AND AIS
Related Topics
CAclubindia
