Tax rate applicable on Trust
This query is : Open
27 October 2010
Sir,
In Wealth Tax, Trust is assessable as an individual.
But in Income Tax, in which capacity a trust will be assessble ??
Please give reply with the supporting provisions/cases details.
Thanks for your reply in advance.
In Wealth Tax, Trust is assessable as an individual.
But in Income Tax, in which capacity a trust will be assessble ??
Please give reply with the supporting provisions/cases details.
Thanks for your reply in advance.
27 October 2010
Trust will be assessable as artificial person.
This is a reiduary classification, those assessee who is not covered under any one ( individaul,HUF,Firm,Company, AOP, Local authority).
This is a reiduary classification, those assessee who is not covered under any one ( individaul,HUF,Firm,Company, AOP, Local authority).
27 October 2010
trsut is an AOP.
27 October 2010
There are two different expert opinions. So give me final conclusion.
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