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of <h1>Taxable Income for Trust Beneficiaries Calculated by Chargeable Portion Ratio: Section 165, Income Tax Act, 1961.</h1> Section 165 of the Income Tax Act, 1961 addresses situations where only a portion of a trust's income is subject to tax. It stipulates that the taxable income for a beneficiary is determined by the ratio of the chargeable portion of the trust's income to the total income of the trust. This ensures that beneficiaries are taxed only on the proportion of income that is chargeable under the Act.
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