Formation of Trust for ring fencing and retirement income

Hello Team, We, as a family of 4, have accumulated sizeable amount (cash) that is supposed to be used for retirement purposes. The amount accumulated is through a sale of property (the tax for this transaction has been paid). Our goal is to form a private irrevocable specified trust, introduce the cash into trust while forming the trust and then deploy that cash into debt and equity investments. Following are our concerns: 1. Tax implication while introducing the cash into trust - It is very much clear that there won't be any capital tax implication for introducing the cash into…

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  Is immovable property gifted to a relative through a trust taxable or not

Is immovable property gifted to a relative through a trust taxable or not, and is it payble by the donor? What if the trust has created a company on the immovable property. Will the income generated from the company be taxed as gift tax?

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  Taxation on conversion of Private Specific Trust to Discretionary Trust

A private Specific Trust wants to convert itself into Discretionary Trust. What will be the tax impact and whether it will be assumed that on conversion private specific trust is first dissolved and thereafter discretionary trust is formed?  Further, the specific trust presently has huge investments in shares of various private companies and are shown at cost price the question is whether on conversion the shares will have to be revalued and brought to tax in the hands of beneficiaries at the time of conversion and further shares are held for more than 24 months, the question is whether on…

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  Private Family Trust

Assessee is private family trust created by the setlor for the benefits of 4 minor sons of family. In the said trust father and mother of 4 sons were trustees. After few years one of the trustee was expired. The trust is later on run by the sole trustee. The sole trustee also expired after 2 years. Since 4 sons who were beneficiaries of the trust become major  have decided to continue the trust by appointing two brothers out of 4 as trustees of the trust. Whether action taken by trustee is legally correct ? If not what action has…

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  When a person desires of setting up a Private Trust where he is the sole beneficiary , whether provision of S. 56(2)(vii) is applicable ?

An individual holding OCI CARD is desirous of setting up a Trust in India and be the managing trustee and the beneficiary till he is alive . He is desirous of transferring his immovable property in India and also his income from abroad to the trust. Will there be any levy of tax u/s 56 (2)(vii) as the recipient is  a trust or there will be no tax as he is the transferor and also the beneficiary

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