Hi
My client has a family private trust which is holding 30% share in one LLP. Now LLP decided to distribute the profits after paying tax.
Now I need to know the tax applicability below.
1. Any Tax on Trust Hands
2. Any Tax on Beneficiary
3. Any Tax on Settlor
4. What if Trust also decided to distribute income received from LLP to the Beneficiary, does the beneficiary need to pay any tax?
please help with the answers or references.