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of <h1>Trustees under oral trusts taxed at maximum marginal rate under Section 164A regardless of other provisions</h1> Section 164A of the Income Tax Act, 1961 mandates that income received by trustees under oral trusts is taxed at the maximum marginal rate, regardless of other provisions in the Act. An oral trust is defined as per the meaning in section 160's explanation. This provision applies when trustees receive or are entitled to receive income on behalf of beneficiaries under oral trust arrangements. The section was inserted in 1981 and subsequently amended in 1987 to remove the definition of maximum marginal rate.
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