Pre-registration physical verification becomes mandatory to prevent non-existent business registrations and support timely GST registration processing...
Section 167B, which applies the maximum marginal rate where beneficiaries' shares are indeterminate, does not apply to public charitable trusts or organisations. Their income is chargeable at normal rates notwithstanding uncertainty regarding beneficiaries' shares. Application of this principle requires verification of the trust deed, rectification application, return of income and original assessment order. Following verification, the tax liability should be computed at normal rates and consequential relief granted where due.
Section 167B, which applies the maximum marginal rate where beneficiaries' shares are indeterminate, does not apply to public charitable trusts or organisations. Their income is chargeable at normal rates notwithstanding uncertainty regarding beneficiaries' shares. Application of this principle requires verification of the trust deed, rectification application, return of income and original assessment order. Following verification, the tax liability should be computed at normal rates and consequential relief granted where due.
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TaxTMI 
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