Trust definitions under income tax law include legally established trusts and, for specified purposes, other legal obligations. Under section 224(10) of the Income Tax Act, 2025, trust means a trust established under the Indian Trusts Act, 1882, or any other law in force. For ... Summary
Trust definitions under income tax law include legally established trusts and, for specified purposes, other legal obligations.
Under section 224(10) of the Income Tax Act, 2025, trust means a trust established under the Indian Trusts Act, 1882, or any other law in force. For purposes of section 2(24)(iia), the term also includes any other legal obligation. Explanation 1(b) to section 115UB defines trust for the purposes of the relevant Chapter as a trust established under the Indian Trusts Act or any other law in force.
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