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.
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.
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.
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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