Violation of Section 13 Taxes Only Non-Conforming Investment Income at MMR, Not Entire Trust Income
Violation of Section 13 Taxes Only Non-Conforming Investment Income at MMR, Not Entire Trust Income Issue Whether a violation of Section 13 of the Income-tax Act, 1961 results in the total forfeiture of Section 11 exemption for the entire income of a charitable trust, or if the denial and application of the maximum marginal rate… Read More »