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 Topics :
- Foreign remittance
- Affordable Residential Flats in Gurgaon
- Manufacturing
- TAN REGISTRATION ON E-FILLING SITE
- Form 10-IEA – Continuing Old Regime
- Income tax act 2026
- Belated Return where Form 10IEA filed this year to
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
Related Topics :
CAclubindia
