What is the tax rate on trusts?

Discussion in 'Income Tax' started by Raju Choudhary, Nov 28, 2015.

  1. Raju Choudhary

    Raju Choudhary Active Member Staff Member

    A trust is chargeable to tax as per the slab rates which are applicable to an individual (not being a senior citizen or super senior citizen).
    Surcharge: The amount of income-tax (as computed above) shall be further increased by a surcharge at the rate of 10% of such tax, where total income exceeds one crore rupees. However, the surcharge shall be subject to marginal relief (the total amount payable as income-tax and surcharge shall not exceed total amount payable as income-tax on total income of one crore rupees by more than the amount of income that exceeds one crore rupees).

    Education Cess: The amount of income-tax and the applicable surcharge, shall be further increased by education cess and secondary and higher education cess calculated at the rate of two per cent and one per cent respectively of such income-tax and surcharge.

    You can find all slab Rates at Following article http://caknowledge.in/latest-income-tax-slab-rates/
     
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