Private Trusts with Single Beneficiary Entitled to Slab Rates, Not MMR: ITAT Jaipur

Samiksha Roongta Benefit Trust Vs ITO (ITAT Jaipur) MMR Not Automatic! Private Trust with Single Minor Beneficiary Gets Relief- ITR Form Error Can’t Cost Slab Benefit, Rules ITAT Jaipur ITAT Jaipur Bench dealt with the important issue of whether income of private specific trusts having a single determinate beneficiary could be taxed at Maximum Marginal Rate (MMR) or whether slab benefit available to individuals/AOPs should be applied. Both the trusts were created for the benefit of minor children under a family arrangement, having only interest income & small gifts during the relevant ye...