Trust
This query is : Open
22 June 2009
Income Tax Impact on Minor Beneficiary Trust. Is the trust as to pay any tax and what will be the slab rate
22 June 2009
01. See the slab rates that would be applicable on trust is the slab rates applicable for individuals.
02. Yes Trust will be liable to pay tax if its income exceeds the max. income not chargeable to tax.
03. Benefit of Section 11 & 12 will be claimed if the trust is registered under section 12A of the income TAx Act
02. Yes Trust will be liable to pay tax if its income exceeds the max. income not chargeable to tax.
03. Benefit of Section 11 & 12 will be claimed if the trust is registered under section 12A of the income TAx Act
23 June 2009
But it seem the beneficiary trust is tax free trust since it is opened for the benefit of minor
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