Taxabilty of aoi (trust)

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2013 Hello,

My client(AOP) is registered under society registration act 1860 , but not registered under any provision of income tax act 1961.
I wanted to know the tax rates applicable on my client under income tax act for A/Y 12-13.

Please Help ASAP.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 September 2013 Normal tax rate applicable to an AOP shall apply:

i. Income-tax:
Income Slabs Income Tax Rate
i. Where the total income does not exceed Rs. 1,80,000/-. NIL

ii. Where the total income exceeds Rs. 1,80,000/- but does not exceed Rs. 5,00,000/-. 10% of amount by which the total income exceeds Rs. 1,80,000/-

iii. Where the total income exceeds Rs. 5,00,000/- but does not exceed Rs. 8,00,000/-. Rs. 32,000/- + 20% of the amount by which the total income exceeds Rs. 5,00,000/-.

iv. Where the total income exceeds Rs. 8,00,000/-. Rs. 92,000/- + 30% of the amount by which the total income exceeds Rs. 8,00,000/-.

ii. Surcharge: Nil

iii. Education Cess: 3% of the Income-tax.

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