Taxabilitu of trust
This query is : Open
19 December 2012
Dear Experts
If a charitable trust is unregistered than it will be treated as an aop and taxable at mmr.
But my que is that if all the members of the trust is having income bellow exemption or agriculture income only than in that case as well trust will be taxed at mmr or it will be given benefit of the slab system??
Please do reply as early as posible...
Thnaks in advance
If a charitable trust is unregistered than it will be treated as an aop and taxable at mmr.
But my que is that if all the members of the trust is having income bellow exemption or agriculture income only than in that case as well trust will be taxed at mmr or it will be given benefit of the slab system??
Please do reply as early as posible...
Thnaks in advance
19 December 2012
the income will be taxable according to slab system.
19 December 2012
FIRSTLY THANKS
IN THAT CASE DOES IT MEAN THAT ALL THE PROVISION OF THE AOP WILL APPLICABLE TO IT. IT WILL NO LONGER TREATED AS TRUST RIGHT???
AND ITS INCOME WILL BE TAXED AT SLAB RATE AND NOT THE MMR I.e 30% FLAT
IN THAT CASE DOES IT MEAN THAT ALL THE PROVISION OF THE AOP WILL APPLICABLE TO IT. IT WILL NO LONGER TREATED AS TRUST RIGHT???
AND ITS INCOME WILL BE TAXED AT SLAB RATE AND NOT THE MMR I.e 30% FLAT
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