Tax on body of individuals
This query is : Resolved
24 March 2016
Sir,
In the case of body of indiduals or AOP, if total income is rs. 210000, & the entire income comprises interest from tax free bonds, my questions are
I. Will Body of individuals be liable to any income tax.
Ii. Can income be included in individual income since interest is from tax free bonds - while share of each individual is definite.
In the case of body of indiduals or AOP, if total income is rs. 210000, & the entire income comprises interest from tax free bonds, my questions are
I. Will Body of individuals be liable to any income tax.
Ii. Can income be included in individual income since interest is from tax free bonds - while share of each individual is definite.
24 March 2016
Interest earned from tax free bond is exempted from taxation for all assassee.
Income can be shown under exempted income.
Income can be shown under exempted income.
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