capital gain of a trust ( which is not applied for charitable purpose ) will be taxed at what rate ?
and also any other income (if not exempt u/s 11-12-13) is taxed at what rate ?
it would be great help if you could provide sec. no in ans
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trust capital gain
Replies (4)
If short term gain then 15% and if Long term gain then 20% u/s 111A & 112A respectively.
Other income will be taxed as per slab.
and when it will be taxable @ MMR ( maximum marginal rate)
If trust income consists of Income from Business & Profession then thats taxable at MMR or actual whichever higher
thank you !!
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