tax liability
This query is : Resolved
03 May 2010
what is the tax liability for a trust??
Is there any exemption to it ?
whether it is compulsary to file the retiurn of the trust?
Is there any exemption to it ?
whether it is compulsary to file the retiurn of the trust?
03 May 2010
A trust is taxable as an association of person (AOP)on it's income. There is no exemption for any trust. Though trust engaged in the cheritable purpose can apply for recognition under section 12/12A. Yes for each trust it is compulsoury to file ROI.
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