Section 164A
Charge of tax in case of oral trust. Repealed
About this Act
An Act to consolidate and amend the law relating to income-tax and super-tax
1Where a trustee receives or is entitled to receive any
income on behalf or for the benefit of any person under an oral trust, then, notwithstanding anything
contained in any other provision of this Act, tax shall be charged on such income at the maximum
marginal rate.
Explanation.—For the purposes of this section,—
2 * * * *
* (ii) “oral trust” shall have the meaning assigned to it in Explanation 2 below sub-section (1) of section 160.
Explanation.—For the purposes of this section,—
2 * * * *
* (ii) “oral trust” shall have the meaning assigned to it in Explanation 2 below sub-section (1) of section 160.
Notes
1. Ins. by Act 16 of 1981, s. 15 (w.e.f. 1-4-1981).
2. Clause (i) omitted by Act 4 of 1988, s. 65 (w.e.f. 1-4-1989).
2. Clause (i) omitted by Act 4 of 1988, s. 65 (w.e.f. 1-4-1989).