Gift Tax on Private Trust by beneficiary itself?



In case of a private trust, if the beneficiary himself gives his own money to trust what will be the taxation in this case ? a) Income tax will be paid by the trust b) Will the person giving money is beneficiary himself?

Any citations/cases will be appreciated.

Gift Tax on Private Trust by beneficiary itself?
Rate these answers

2 Replies to “Gift Tax on Private Trust by beneficiary itself?”

  1. Gift to private trust even by its benificiary is taxable under the source income from other sources and liable to tax as per income tax slab applicable to trust.


  2. Gift Above Rs.50000/= is taxable. Tax will be on income if individual income crosses from tax slab defined by Income tax deptt. Income Tax paid by trust on their income nothing to do with individual income.





Leave a Reply

Your email address will not be published. Required fields are marked *