High Court: Section 164 of Income Tax Act applies maximum marginal rate to trustees accountable only to direct trust beneficiaries. https://www.taxtmi.com/highlights?id=30146 Maximum marginal rate u/s 164 - answerability of trustees to beneficiary is limited to beneficiary of a particular trust as per Trust Act and it cannot be stretched or reached to beneficiaries of beneficiary and then against beneficiaries’ beneficiary. - HC en-us Wed, 06 Jul 2016 04:06:02 +0530 Wed, 06 Jul 2016 04:06:02 +0530 TaxTMI RSS Generator High Court: Section 164 of Income Tax Act applies maximum marginal rate to trustees accountable only to direct trust beneficiaries. https://www.taxtmi.com/highlights?id=30146 Maximum marginal rate u/s 164 - answerability of trustees to beneficiary is limited to beneficiary of a particular trust as per Trust Act and it cannot be stretched or reached to beneficiaries of beneficiary and then against beneficiaries’ beneficiary. - HC Highlights Income Tax Wed, 06 Jul 2016 04:06:02 +0530 https://www.taxtmi.com/highlights?id=30146