https://www.taxtmi.com/acts?id=46882 The amendment confines the proviso to section 164(1) for business profits to trusts declared by will exclusively for a dependent relative and being the only such trust, and provides that any relevant income not exempt under the charitable/institutional exemption provisions shall be taxed at the maximum marginal rate, with corresponding provisos inserted into section 164(3) to ensure consistent application. en-us Thu, 02 Jan 2025 11:54:44 +0530 Thu, 02 Jan 2025 11:54:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46882 The amendment confines the proviso to section 164(1) for business profits to trusts declared by will exclusively for a dependent relative and being the only such trust, and provides that any relevant income not exempt under the charitable/institutional exemption provisions shall be taxed at the maximum marginal rate, with corresponding provisos inserted into section 164(3) to ensure consistent application. Act-Rules F. Acts / Amendment Acts Thu, 02 Jan 2025 11:54:44 +0530 https://www.taxtmi.com/acts?id=46882