AOP TAX RATE

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na
175 Points Posted on 20 February 2020
AOP REGISTERED UNDER SOCIETY ACT 1960 .WHICH FORM TO SELECT ITR5 OR ITR 7 AND IN BYLAWS SHARE OF MEMBER IS NOT MENTIONED WEATHER TAX TO BE PAID ON MAXIMUM MARGINAL RATE.PLEASE CLARIFY
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On 20 February 2020 at 12:01 Report
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This discussion clarifies tax filing for an AOP registered under the Society Act 1960. It questions whether ITR5 or ITR7 is the correct form to use, especially when member share isn't specified in bylaws. The query also seeks confirmation on whether tax is payable at the Maximum Marginal Rate (MMR) for FY 2018-19.

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GST Practitioner & Accounts
15150 Points Posted on 20 February 2020

for  AOP  ITR5 , However  for F.y 2019-20  forms are  not yet  notified by the  Department . please confirm 

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On 20 February 2020 at 13:43
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na
175 Points Posted on 20 February 2020
It's for fy 2018-19. please answer second part of question
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On 20 February 2020 at 14:02
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2 Points Posted on 21 February 2020
Tax will be charged on MMR
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On 21 February 2020 at 11:10

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