Our is a trust - there is no 12a registration
This query is : Resolved
12 November 2018
I FILED ITR 5 AS AOP. IN THIS RETURN WE GOT PROFIT FOR RS.80000/-.. SLAB RATES FOR AOP IS 2,50,000. IN THIS RETURN THERE IS NO TAXABLE INCOME. BECAUSE IT IS BELOW TAXABLE. BUT A.O.IS SEND 143 NOTICE, IN THAT HE CHARGES 30%TAX ON PROFIT (MEANS 80000 X 30% TAX). WHAT IS THE AOP
SLAB RATES. PLEASE SUGGEST ME
SLAB RATES. PLEASE SUGGEST ME
13 November 2018
Slab rates applicable only when none of the members of AOP have taxable income. Otherwise taxable at maximum marginal rate of 30%.
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