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Question ID : 40568

Taxation of Unregistered Trust

If trust is not registered under income tax than income shall be taxable as if income in the hands of AOP. AOP taxation depends on his member's share identity. than my Question is in case of unregistered trust how to check member's share?

Posted by PRAKASHKUMAR HASMUKHLAL THAKKA on Feb 13, 2020

Filed Under DIRECT TAXES

Answer ID : 80411

If income is distributed to members, share will be definite and if not, it will be indefinite. Also refer trust deed for share. If share in indefinite, maximum marginal rate is applicable.

Posted by CA. chunauti dholakia on Feb 14, 2020