“trust” means a trust constituted under the Trust Act, 1882 (Act No. II of 1882) and also includes a trust as defined in the Specific Relief Act, 1877 (Act No. II of 1877):

    Provided that where the trust is constituted as a prerequisite for the formation of a company or fund or for the purpose of managing the company or fund, the said company or fund, as the case may be, shall be a taxable entity and the trust shall not be treated as a taxable entity;