21 March 2017
What is the tax rate applicable on incomes of political party and electoral trust other than those exempt u/s 13A and 13B respectively (eg:- PGBP for PP and IOS for ET) and which type of "person" are they for assessment purposes under income tax act,1961 ?
22 March 2017
thanks for rply sir. Sir i read somewhere on caclub that political parties are BOI not AOP. Is it corret sir? Further ET are formed as NPO companies....so acc to u they get AOP(T) PAN.....so both PP and ET get slab benefit right sir?
25 March 2017
Slab rates applicable when exemption provisions are complied. Maximum marginal rate applicable wherever non compliance of exemption provisions.
CAclubindia
