https://www.taxtmi.com/forum/issue?id=111273 An unregistered public trust may be taxed as an Association of Persons; if member shares are indeterminate it attracts the Maximum Marginal Rate, whereas determinate (including zero) shares permit slab rates though proving this can be impractical. Charitable expenditure deductions and favourable treatment require statutory recognition for charitable status; absent that recognition the surplus is taxable. Applications for rectification are confined to correcting obvious errors and cannot be used to add new expenditure claims. en-us Tue, 27 Dec 2016 11:52:00 +0530 Thu, 23 Jan 2025 15:56:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=111273 An unregistered public trust may be taxed as an Association of Persons; if member shares are indeterminate it attracts the Maximum Marginal Rate, whereas determinate (including zero) shares permit slab rates though proving this can be impractical. Charitable expenditure deductions and favourable treatment require statutory recognition for charitable status; absent that recognition the surplus is taxable. Applications for rectification are confined to correcting obvious errors and cannot be used to add new expenditure claims. Discussion-Forum Income Tax Tue, 27 Dec 2016 11:52:00 +0530 https://www.taxtmi.com/forum/issue?id=111273