family trust winding up

Querist : Anonymous (Querist) 22 December 2010 This query is : Resolved
Please tell me

At the time of winding up of a family trust it distribute its property to its beneficiaries will attract ant tax in the hand of trust

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Raj Kumar Makkad (Expert) 22 December 2010
No any tax liability shall accrue while distributing the property to the beneficiary of the trust.

Querist : Anonymous (Querist) 22 December 2010
Thanks sir for giving kind attention

Sir can u please clarify your answer with reason putting section in which such transaction is exempt in Income tax act or any other act.

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