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TMI BlogCharge of tax where share of beneficiaries unknownX X X X Extracts X X X X X X X X Extracts X X X X ..... ereafter in this section referred to as "relevant income", "part of relevant income" and "beneficiaries", respectively), 3[tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate :] Provided that in a case where- 4[(i) none of the beneficiaries has any other income chargeable under this Act exceeding the maximum amount not chargeable to tax in the case of an 5[association of persons] or is a beneficiary under any other trust; or] (ii) the relevant income or part of relevant income is receivable under 6[a trust declared by any person by will and such trust is the only trust so declared by him]; or (iii) the relevant income or part of relevant income is receivabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evant income which is derived from property held under trust wholly for charitable or religious purposes, 12[or which is of the nature referred to in sub-clause (iia) of clause (24) of section 2,] 13[or which is of the nature referred to in sub-section (4A) of section 11,] tax shall be charged on so much of the relevant income as is not exempt under section 11 14[or section 12], as if the relevant income not so exempt were the income of an association of persons : 15[Provided that in a case where the whole or any part of the relevant income is not exempt under section 11 or section 12 by virtue of the provisions contained in clause (c) or clause (d) of sub-section (1) of section 13, tax shall be charged on the relevant income or part of re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... le or religious purposes has any other income chargeable under this Act exceeding the maximum amount not chargeable to tax in the case of an association of persons or is a beneficiary under any other trust; or] (ii) the relevant income is receivable under 21[a trust declared by any person by will and such trust is the only trust so declared by him]; or (iii) the relevant income is receivable under a trust created before the 1st day of March, 1970, by a non-testamentary instrument and the 22[Assessing] Officer is satisfied, having regard to all the circumstances existing at the relevant time, that the trust, to the extent it is not for charitable or religious purposes, was created bona fide exclusively for the benefit of the relatives of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... behalf or for whose benefit such income or such part thereof is receivable during the previous year is expressly stated in the order of the court or the instrument of trust or wakf deed, as the case may be, and is identifiable as such on the date of such order, instrument or deed ; (ii) the individual shares of the persons on whose behalf or for whose benefit such income or such part thereof is received shall be deemed to be indeterminate or unknown unless the individual shares of the persons on whose behalf or for whose benefit such income or such part thereof is receivable, are expressly stated in the order of the court or the instrument of trust or wakf deed, as the case may be, and are ascertainable as such on the date of such order, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with effect from the same date. 10. Inserted by the Finance Act, 1984, w.e.f. 1-4-1985. 11. Reintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, it was omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the same date. 12. Inserted by the Finance Act, 1972, w.e.f. 1-4-1973. 13. Inserted by the Finance Act, 1983, w.e.f. 1-4-1984. 14. Inserted by the Finance Act, 1972, w.e.f. 1-4-1973. 15. Inserted by the Finance Act, 1984, w.e.f. 1-4-1985. 16. Reintroduced by the Direct Tax Laws (Amendment) Act, 1989, w.e.f. 1-4-1989. Earlier, it was omitted by the Direct Tax Laws (Amendment) Act, 1987, with effect from the same date. 17. Inserted by the Finance Act, 1972, w.e.f. 1-4-1973. 18. Inser ..... X X X X Extracts X X X X X X X X Extracts X X X X
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