https://www.taxtmi.com/caselaws?id=471730 Public charitable trusts whose trustees or members have no entitlement to a share of income are not subject to the maximum marginal rate merely because their shares are indeterminate or unknown. The rule for indeterminate member shares applies to associations of persons or bodies of individuals, but CBDT clarification treats charitable or religious trusts without beneficiary income rights as taxable at normal association-of-persons rates. Accordingly, a public charitable trust not registered under section 12A is assessable at normal rates rather than the maximum marginal rate; where its income remains below the basic exemption limit, no tax is payable. en-us Fri, 15 May 2026 00:00:00 +0530 Wed, 16 Sep 2026 11:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471730 Public charitable trusts whose trustees or members have no entitlement to a share of income are not subject to the maximum marginal rate merely because their shares are indeterminate or unknown. The rule for indeterminate member shares applies to associations of persons or bodies of individuals, but CBDT clarification treats charitable or religious trusts without beneficiary income rights as taxable at normal association-of-persons rates. Accordingly, a public charitable trust not registered under section 12A is assessable at normal rates rather than the maximum marginal rate; where its income remains below the basic exemption limit, no tax is payable. Case-Laws Income Tax Fri, 15 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471730