Section 308 — Charge of tax in case of oral trust

(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

Related sections

Section 302 — 1.—Legal representatives Legal representative
Section 303 — 2.—Representative assessees—General provisions Representative assessee
Section 304 — Liability of representative assessee
Section 305 — Right of representative assessee to recover tax paid
Section 306 — Who may be regarded as agent
Section 307 — Charge of tax where share of beneficiaries unknown
Section 309 — Method of computing a member’s share in income of association of persons or body of individuals
Section 310 — Share of member of association of persons or body of individuals in income of association or body
Section 311 — Charge of tax where shares of members in association of persons or body of individuals unknown, etc
Section 312 — Executor
Section 313 — Succession to business or profession otherwise than on death
Section 314 — Effect of order of tribunal or court in respect of business reorganisation
Section 315 — Assessment after partition of Hindu undivided family
Section 316 — Shipping business of non-residents
Section 317 — Assessment of persons leaving India
Section 318 — Assessment of association of persons or body of individuals or artificial juridical person formed for a particular event or purpose
Section 319 — Assessment of persons likely to transfer property to avoid tax
Section 320 — Discontinued business
Section 321 — Association dissolved or business discontinued
Section 322 — Company in liquidation
Section 323 — 13.—Private companies Liability of directors of private company
Section 324 — 14.—Assessment of firms Charge of tax in case of a firm
Section 325 — Assessment as a firm
Section 326 — Assessment when section 325 not complied with
Section 327 — 15.—Change in constitution, succession and dissolution Change in constitution of a firm
Section 328 — Succession of one firm by another firm
Section 329 — Joint and several liability of partners for tax payable by firm
Section 330 — Firm dissolved or business discontinued
Section 331 — 16.—Liability of partners of limited liability partnership in liquidation Liability of partners of limited liability partnership in liquidation
Section 332 — Application for registration
Section 333 — Switching over of regimes
Section 334 — Tax on income of registered non-profit organisation
Section 335 — Regular income
Section 336 — Taxable regular income
Section 337 — Specified income
Section 338 — Income not to be included in regular income
Section 339 — Corpus donation
Section 340 — Deemed corpus donation
Section 341 — Application of income
Section 342 — Accumulated income
Section 343 — Deemed accumulated income
Section 344 — Business undertaking held as property
Section 345 — Restriction on commercial activities by a registered non-profit organisation
Section 346 — Restriction on commercial activities by registered non-profit organisation, carrying out advancement of any other object of general public utility
Section 347 — Books of account
Section 348 — Audit
Section 349 — Return of income
Section 350 — Permitted modes of investment
Section 351 — Specified violation
Section 352 — Tax on accreted income
Section 353 — Other violations
Section 354 — Application for approval for purpose of section 133(1)(b)(ii)
Section 355 — Interpretation