Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Surcharge on Private Discretionary Trust Income: ITAT Applies 15% Rate as Income Does Not Exceed ₹2...
Income TaxOther Legal Matters
The ITAT has applied a surcharge rate as the "income of a private discretionary trust does not exceed ₹1 crore." The tribunal's decision clarifies a contentious issue and is a significant victory for the taxpayer. The ruling reinforces the principle that the surcharge rate is to be applied based on the income of the trust and not on the notional income of the beneficiaries.
