9911796707
TMI BlogAmendment of section 164X X X X Extracts X X X X X X X X Extracts X X X X ..... mely :- tax shall be charged on the relevant income or part of relevant income at the maximum marginal rate : ; (ii) in the proviso, - (1) for clause (i), the following clause shall be substituted, namely :- (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 association of persons or is a beneficiary und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... re indeterminate or unknown, the tax chargeable on the relevant income shall be the aggregate of - (a) the tax which would be chargeable on that part of the relevant income which is applicable to charitable or religious purposes (as reduced by the income, if any, which is exempt under section 11) as if such part (or such part as so reduced) were the total income of an association of persons; and ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ust declared by will , the words under a trust declared by any person by will and such trust is the only trust so declared by him shall be substituted; (3) in the concluding portion, for the words as if the relevant income , the words on the relevant income as if the relevant income shall be substituted; (c) after sub-section (3), the following Explanations shall be inserted, namely :- Explanation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 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, instrument or deed. Explanation 2 : In this section, maximum marginal rate means the rate of income-tax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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