Re: [aaykarbhavan] Request for clerification

Status of Private Trust under the Income Tax Act - Association of Person and beneficiary its shares are determined and any beneficiary has taxable income in that case AOP (Private Trust)  income is chargeable at maximum marginal rate and after paying tax by AOP (private Trust) distribute its after tax income to its beneficiaries.

Now any beneficiary who receive share from AOP (Private Trust) so my simple question is that whether such income is tax free if so pl give me section and oblige.

On 27 July 2013 23:06, Dipak Shah <djshah1944@yahoo.com> wrote:

 

Elaborate fully as to Private Trust and and how it is being taxed in Income Tax ?
C A Shah D J
USA

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From: Bhupendra Bhatt <bjbhatt1953@gmail.com>
To: aaykarbhavan@yahoogroups.com
Sent: Saturday, 27 July 2013 5:07 AM
Subject: [aaykarbhavan] Request for clerification

 

Dear All

one my client is have taxable income and also received tax paid income from a private trust as per assesses such income is tax free but unable to mention section under which it is tax free. So pl quote me section and oblige. 
 
With warm regards
Sincerely yours
Bhupendra Bhatt
Advocate

M - 09712831839

A-37 & 38, Ghanshyam Avenue, 13, Sattar Taluka Society, Opp. C. U. Shah College, Navjivan Post Office Area, Ahmedabad 380 014 Gujarat, India.

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With warm regards
Sincerely yours
Bhupendra Bhatt
Advocate

M - 09712831839

A-37 & 38, Ghanshyam Avenue, 13, Sattar Taluka Society, Opp. C. U. Shah College, Navjivan Post Office Area, Ahmedabad 380 014 Gujarat, India.

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