https://www.taxtmi.com/reply=120129 Tax treatment of a private discretionary family trust not created under a will, with indeterminate beneficiary shares and income above the specified threshold, is examined under the new tax regime. The issue is whether the trust, assessed as an AOP, is taxable at the slab rate or maximum marginal rate, and, if maximum marginal rate applies, whether the surcharge is limited to the 25% cap under Section 115BAC or can be charged at a higher rate. The discussion centres on the interaction between assessment status, rate structure, and surcharge limitation. en-us Tue, 10 Jun 2025 17:24:54 +0530 Mon, 06 Apr 2026 12:33:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/reply=120129 Tax treatment of a private discretionary family trust not created under a will, with indeterminate beneficiary shares and income above the specified threshold, is examined under the new tax regime. The issue is whether the trust, assessed as an AOP, is taxable at the slab rate or maximum marginal rate, and, if maximum marginal rate applies, whether the surcharge is limited to the 25% cap under Section 115BAC or can be charged at a higher rate. The discussion centres on the interaction between assessment status, rate structure, and surcharge limitation. Discussion-Forum Income Tax Tue, 10 Jun 2025 17:24:54 +0530 https://www.taxtmi.com/reply=120129