Hello Sir/Madam,
Can minor trust be used as tax planning?
The trust income is taxable in the hands of minor beneficiary, Whether clubbing provisions attracts here?
Hello Sir/Madam,
Can minor trust be used as tax planning?
The trust income is taxable in the hands of minor beneficiary, Whether clubbing provisions attracts here?
Clubbing provision is attracted only when personal skill or intelligence of minor is not the reason to earn such income. If trust income is earned by the minor using his skill than only clubbing provision will not apply otherwise it will.
CAclubindia
