Aop taxation rate.
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
10 January 2013
what is the rate of taxation to be applied for AOP other than AOP MMR?
CA Neha Chauhan
(Expert)
10 January 2013
Hello,
If the share of Members are identifiable and if the Income of AOP does not exceeds basic exemption limit then the tax will be charged at the rate applicable to individual.
But if the Income of the AOP exceeds basic exemption limit then at the rate 30% AOP will be taxed.
Regards,
Neha Chauhan
If the share of Members are identifiable and if the Income of AOP does not exceeds basic exemption limit then the tax will be charged at the rate applicable to individual.
But if the Income of the AOP exceeds basic exemption limit then at the rate 30% AOP will be taxed.
Regards,
Neha Chauhan
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