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Avoid Oral Trust

Under the provisions of Section 164A of the IT Act, any income, received by a trustee on behalf of or the benefit of any person under an oral trust is chargeable to income tax at the maximum marginal rate applicable to an individual. Hence a trust should always be made through a written trust deed. Where, however, an oral trust is created, the trustee must forward to the concerned Assessing Officer, within three months, a statement in writing signed by the trustees, setting out the purposes of the trust, particulars as to the trustee, the beneficiaries and the trust property. Where this is done, the oral trust would be regarded as a written trust.
Introduction to Family Tax Planning
Family Tax Planning - Matter Of Making Gifts And Settlements
Family Tax Planning For A Nuclear Family
Family Tax Planning By DINKs (Double Income No Kids)
Family Tax Planning While Accepting Gift
Have A Trust For Your Prospective Spouse for Family Tax Planning
It Is Possible To Have Discretionary Trust - Family Tax Planning
Avoid Oral Trust towards Family Tax Planning
Conclusion @ Family Tax Planning
How To Avoid Clubbing Of Income Of Husband And Wife -Tax Planning
How To Avoid Clubbing Of Income Of Minor Child In Parent’s Income
Minor Child should have Separate Income Tax File for Tax Planning
Use Of Marriage For Family Tax Planning
Major Children Are Your Great Tax Savers for Family Tax Planning
Your Parents And In-Laws Can Save More Taxes For You
You May Plan To Save Income Tax For Your Successors
Separate Income Tax File For A Daughter-In-Law

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