Diversion of charitable trust property triggers trustee wealth tax liability as if held by an individual resident.

Wealth-tax is leviable on trustees where trust property or income held for public charitable or religious purposes is used or applied, or where income endures, for the benefit of persons disqualified under income tax law; the tax is charged on the trustee as if the property were held by an individual resident citizen, at individual rates or an alternative rate, whichever is more beneficial to revenue, subject to carve outs for mandatory pre commencement uses and a small investment safe harbour, and with a twelve month deeming rule for applications benefiting disqualified persons.

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