Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights August 2019 Year 2019 This

Addition of foreign dividend income belonging to two trusts - ...


Foreign Dividend Income from Trusts for Minors: Accrual Requirement for Tax Implications on Trusts and Beneficiaries.

August 3, 2019

Case Laws     Income Tax     AT

Addition of foreign dividend income belonging to two trusts - irrevocable trust created for the benefit of children - before proceeding to club the dividend income accruing or received by the trusts created for the benefit of minor children, it is mandatory to show that the said income accrued or was received by the minor children.

View Source

 


 

You may also like:

  1. Set off of current year business loss against foreign dividend income - levy of tax u/s 115BBD on gross foreign dividend income - assessee would be entitled for set off...

  2. Filing requirements and income reporting structure for business and securitisation trusts under section 115TCA of the Income-tax Act, 1961. The key outcomes are:...

  3. The appellant trust claimed to be formed for public charitable activities and registered under the Rajasthan Public Trust Act 1959, regularly filing its income tax...

  4. Section 90 of the Income Tax Act allows relief from double taxation by granting foreign tax credits (FTCs) on foreign income taxed in both India and the other country....

  5. Denial of exemption u/s 10(23C)(iiiad), addition of unexplained cash credits u/s 69A. Registration granted u/s 12AA from 23-02-2019 indicating trust not exclusively...

  6. The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

  7. The Income Tax Bill, 2025 consolidates and modernizes tax provisions for political parties and electoral trusts through Clause 12 and Schedule VIII, replacing Sections...

  8. Disallowance of education cess on income tax and dividend distribution tax u/s 40(a)(ii) - Assessee has fairly conceded that as per amendment vide Finance Act, 2022...

  9. Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

  10. ITAT allowed taxpayer's appeal regarding Tax Collected at Source (TCS) credit for minor child's income clubbed with parent's income. While statutory amendment permitting...

  11. Insertion of new Chapter XII-EB - Tax on accreted income-Interest payable for non-payment of tax by trust or institution - When trust or institution is deemed to be...

  12. The HC dismissed a petition challenging denial of exemption under section 10(23C)(vi) of the Income Tax Act. The petitioner-trust argued that income received solely for...

  13. The notification amends the Income-tax Rules, 1962 by modifying Form No. 10A and Form No. 10AB related to registration u/ss 12A and 80G of the Income-tax Act, 1961. Key...

  14. Credit of Dividend Distribution Tax u/s 115-O - The AO, in preparing the statement of assessed total income, computed the DDT payable but did not adjust the DDT already...

  15. Refund of excess Dividend Distribution Tax - additional income tax payable by the domestic company shall be at the rate mentioned in section 115-O of the Act and not at...

 

Quick Updates:Latest Updates