164A. [ Charge of tax in case of oral trust. [Inserted by Act 16 of 1981, Section 15 (w.r.e.f. 1.4.1981).]
- 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, notwithstanding anything contained in any other provision of this Act, tax shall be charged on such income at the maximum marginal rate.Explanation. - For the purposes of this section,-] [ Inserted by Act 21 of 2006, Section 38 (w.e.f. 1.6.2006).][* * *] [ Clause (i) omitted by Act 4 of 1988, Section 65 (w.e.f. 1.1.1989).](ii)[ "oral trust" shall have the meaning assigned to it in Explanation 2 below sub-section (1) of section 160.] [Inserted by Act 16 of 1981, Section 15 (w.r.e.f. 1.4.1981).]
