https://www.taxtmi.com/article/detailed?id=11698 Trustees are liable to tax at the maximum marginal rate where income includes profits and gains of business or where beneficiaries' shares are indeterminate; such "relevant income" is chargeable at the maximum marginal rate. Exceptions allow slab-rate taxation where the trust is a testamentary trust exclusively for a dependent relative and is the only such trust, where beneficiaries lack taxable income above exemption limits or are beneficiaries under other private trusts, where certain pre-specified bona fide family or employee funds apply, and where provident or pension funds benefit employees. en-us Sat, 05 Aug 2023 13:49:41 +0530 Sat, 05 Aug 2023 13:49:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11698 Trustees are liable to tax at the maximum marginal rate where income includes profits and gains of business or where beneficiaries' shares are indeterminate; such "relevant income" is chargeable at the maximum marginal rate. Exceptions allow slab-rate taxation where the trust is a testamentary trust exclusively for a dependent relative and is the only such trust, where beneficiaries lack taxable income above exemption limits or are beneficiaries under other private trusts, where certain pre-specified bona fide family or employee funds apply, and where provident or pension funds benefit employees. Articles Income Tax Sat, 05 Aug 2023 13:49:41 +0530 https://www.taxtmi.com/article/detailed?id=11698