Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
Defined public benefit can retain charitable character; registration renewal requires examining genuine activities and legal compliance, not surplus a...
Capital reduction is distinct from share buy-back, preventing buy-back tax; restructuring interest and related business deductions also survive scruti...
Page of 4792
Press 'Enter' after typing page number.
981 to 1000 of 95833 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
A sole testamentary family trust created under a deceased's will is discussed as falling within proviso (ii) to section 164(1). The note states that its assessment as an association of persons does not by itself attract taxation at the maximum marginal rate under section 167B, because the statutory proviso applies to a trust that is the only trust declared by will. It also refers to a CBDT clarification and a prior Tribunal decision as supporting taxation otherwise than at the maximum marginal rate. The stated conclusion is that income of the sole testamentary trust is not taxable at that rate for the relevant assessment years.
A sole testamentary family trust created under a deceased's will is discussed as falling within proviso (ii) to section 164(1). The note states that its assessment as an association of persons does not by itself attract taxation at the maximum marginal rate under section 167B, because the statutory proviso applies to a trust that is the only trust declared by will. It also refers to a CBDT clarification and a prior Tribunal decision as supporting taxation otherwise than at the maximum marginal rate. The stated conclusion is that income of the sole testamentary trust is not taxable at that rate for the relevant assessment years.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4792
Join Channel
TaxTMI 
