Section 115TF — the law in short
What the courts have decided on section 115TF, in one screen. Read this first; open an entry when you need the facts, the reasoning and the source.
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CBDT Circular 3/2017
CBDT Circulars & InstructionsHelps departmentSuperseded by amendment
My trust is surrendering registration or merging. What is the s.115TD tax on accreted income?
An additional tax at the maximum marginal rate on accreted income — the fair market value of total assets less liabilities on the specified date — triggered by conversion into a non-charitable form, merger with a non-eligible entity, or failure on dissolution to transfer assets to another eligible institution within twelve months. It is a levy on the net asset position, not on the year's income.
Listed strongest first: Supreme Court, then High Court, then Tribunal, then CBDT. Nothing here has yet been read in full by a chartered accountant — open an entry to see where it came from.