Which of the following statement is incorrect in relation to taxing trust income? Select one:

a. The tax return of the trust must be filed by the trustee

b. A trustee may be liable to be assessed and to pay tax on the trust income

c. The trustee is taxed only on the balance of the trust net income as defined for tax purposes as is referable to income to which beneficiaries are entitled.

d. The beneficiaries are taxable on the net income as defined for income tax purposes