Charge of tax in case of oral trust - Section 308 (New) / Section 164A (Old)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s a special charging provision in respect of income received or receivable by a trustee on behalf of, or for the benefit of, any person under an oral trust. Section 308(1) - Taxation of Income of an Oral Trust Section 308(1) applies where: • a trustee receives or is entitled to receive income; • such income is received or receivable on behalf or for the benefit ....