Note 1: §f a trust is created by will exclusively for the benefit of his dependent for support and maintenance and such trust is the only trust created by him, then tax is chargeable at applicable individual rates

Note 2: Tax is chargeable at applicable individual rate, when none of beneficiaries income exceed Maximum Marginal Amount and not beneficiary in any other trust the relevant income or part of relevant income is receivable under a trust declared by any person by will and such trust is the only trust so declared by him

The relevant income is receivable by the trustees on behalf of a provident fund,  superannuation fund, gratuity fund, pension fund or any other fund created bona fide by a person carrying on a business or profession exclusively for the benefit of persons employed in such business or profession, tax shall be charged on the relevant income as if it were the total income of an association of persons.

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