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unregistered trust

srikumar (audit staff) (1203 Points)

11 August 2019

my client has unregistered private trust, how tax calculation compute ?
what is mmr ?

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Ruby Kumari (72 Points)
Replied 11 August 2019

A public Charitable Trust not registered would be chargeable to tax as an AOP (association of persons). The total income of the AOP/BOI is taxable, either at the rates applicable to an individual, or at the maximum marginal rate or at a rate higher than maximum marginal rate,

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Kapadia Pravin (17259 Points)
Replied 11 August 2019

if shares of beneficiaries are determinate then it will be taxable in the hands of individual beneficiaries. and not as AOP rate

subhagan sreerangam (7040 Points)
Replied 11 August 2019

good clarification and information

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