§ 308
Chapter XVII — Special Provisions Relating To Certain Persons
Charge of tax in case of oral trust
Income-tax Act, 2025
✍️ A plain-language summary of this section is being prepared. Below is the official text.
📜 Official text
308. (1) Where a trustee receives or is entitled to receive any income on behalf
or for the benefit of any person under an oral trust, then, irrespective of
anything contained in any other provision of this Act, tax shall be charged on such
income at the maximum marginal rate.
(2) For the purposes of this section, “oral trust” shall have the meaning assigned
to it in section 303(3).
4. —Association of persons and body of individuals
Method of computing a member’s share in income of association of persons
or body of individuals.
Plain-language summary — not the official text. Refer to the bare Act and confirm with a professional for your specific case.