https://www.taxtmi.com/acts?id=46881 Where a person is liable as a representative assessee and the income includes profits and gains of business, tax on the whole of that income is charged at the maximum marginal rate, subject to an exception for business profits receivable under a will-created trust exclusively for a dependent relative where that trust is the only trust so declared; "maximum marginal rate" has the meaning assigned in Explanation 2 below sub-section (3) of section 164. en-us Thu, 02 Jan 2025 11:54:30 +0530 Thu, 02 Jan 2025 11:54:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46881 Where a person is liable as a representative assessee and the income includes profits and gains of business, tax on the whole of that income is charged at the maximum marginal rate, subject to an exception for business profits receivable under a will-created trust exclusively for a dependent relative where that trust is the only trust so declared; "maximum marginal rate" has the meaning assigned in Explanation 2 below sub-section (3) of section 164. Act-Rules F. Acts / Amendment Acts Thu, 02 Jan 2025 11:54:30 +0530 https://www.taxtmi.com/acts?id=46881