Association income
This query is : Resolved
CA Suresh kumar panda
(Querist)
11 August 2011
Interest received by the association will be taxed at what rate?? Though profit of the association is exempt, its other income will be taxed.but its at what rate?? flat 30%??
pls help
pls help
CA PARAS BAFNA
(Expert)
11 August 2011
In case the members share is indeterminate or any of its member is having taxable income, it is generally taxed @ 30% MM rate.
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CA Suresh kumar panda
(Querist)
11 August 2011
an association is having separate legal entity,how the individual member's income will affect the association income?
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